OpenAI signs $12 billion deal with CoreWeave

OpenAI has signed a nearly $12 billion contract with CoreWeave to supply computing power for its AI models. This five-year deal comes as OpenAI seeks to reduce its reliance on Microsoft, its main partner. CoreWeave recently faced setbacks when Microsoft withdrew from a planned deal due to delivery issues. The new contract with OpenAI is expected to help CoreWeave as it prepares for a $35 billion initial public offering. As part of the agreement, OpenAI will also acquire a $350 million equity stake in CoreWeave during the IPO. CoreWeave, which shifted from cryptocurrency mining to cloud services, has become a major customer of Nvidia's AI GPUs.