CoreWeave expands OpenAI partnership with $6.5 billion deal
AI cloud provider CoreWeave has signed a new $6.5 billion agreement with OpenAI, increasing the total value of their partnership to $22.4 billion. This marks the third major expansion of their collaboration this year, following an initial $11.9 billion deal in March and a $4 billion add-on in May.
The deal supports OpenAI’s Stargate project, a massive datacenter expansion aimed at securing 10 gigawatts of computational capacity to meet growing AI demands. OpenAI plans to open three new sites with Oracle, and build two additional centers with SoftBank, bringing Stargate’s planned capacity to nearly 7 gigawatts and projected investment to over $400 billion in the next three years, News.Az reports, citing Reuters.
The wave of multi-billion-dollar deals highlights the convergence of major tech firms in AI development. Nvidia, which has invested $100 billion in OpenAI and holds more than 5% of CoreWeave, is supplying key data-center chips for the project, raising questions about circular financing and industry antitrust concerns.
CoreWeave’s new agreement underscores its role as a critical infrastructure partner for OpenAI’s rapidly expanding AI operations.
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