Mentioned:
OpenAI is going all in on expanding their access to GPUs. Which is exactly why they’re pouring billions of dollars into a new deal with CoreWeave.
What’s happening:
- CoreWeave (NASDAQ: CRWV) and OpenAI have expanded their existing agreement for high performance computing by $6.5B USD
By the numbers:
- CoreWeave previously entered into two different agreements with OpenAI for $11.9B USD and $4B USD respectively
- OpenAI has now committed to spend a total of $22.4B USD with CoreWeave
Why it matters:
- OpenAI is now CoreWeave’s single largest customer, surpassing Microsoft (NASDAQ: MSFT) who was previously the largest source of revenue for CoreWeave
Going deeper:
- OpenAI has been aggressively making moves to expand their data centre capacity and co-location agreements for artificial intelligence workloads lately, which just recently led to Nvidia (NASDAQ: NVDA) committing up to $100B USD in new funding into OpenAI as they successfully deploy new data centres
