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techcrunch.com/2025/03/10/in-another-chess-move-with-microsoft-openai-is-pouring-12b-into-coreweave/
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techcrunch.com/2025/03/10/in-another-chess-move-with-microsoft-openai-is-pouring-12b-into-coreweave/
In a grandmaster-level chess move, OpenAI has signed a five-year, $11.9 billion agreement with the GPU-heavy cloud service provider CoreWeave, according
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OpenAI has signed a five-year, $11.9 billion agreement with GPU-powered cloud service provider CoreWeave. As part of the deal, OpenAI will receive $350 million worth of equity in CoreWeave, separate from CoreWeave's planned IPO. CoreWeave, previously relying heavily on Microsoft for its revenues, will now have OpenAI as a direct customer, a move that is expected to please IPO investors. This deal is a significant development in the complex relationship between Microsoft and OpenAI, which has seen increasing tensions over the years. CoreWeave, which started as a crypto mining operation, also plans to pay down its substantial debt if its IPO generates the anticipated billions in new capital.
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March 10, 2025, 11:06 p.m.