OpenAI invests $12 billion in CoreWeave cloud services

OpenAI has signed a five-year agreement worth $11.9 billion with CoreWeave, a cloud service provider. This deal includes a $350 million equity purchase in CoreWeave, which recently filed for an IPO but has not yet set a date. Previously, Microsoft was CoreWeave's largest customer, accounting for 62% of its revenue in 2024. The new agreement with OpenAI may help CoreWeave attract investors ahead of its IPO, as it diversifies its customer base. The partnership highlights growing tensions between Microsoft and OpenAI, as both companies compete for enterprise customers. OpenAI's need for more computing resources has led it to seek alternatives, while Microsoft develops its own AI models.