Cloud Provider CoreWeave Inks $11.9 Billion Contract With OpenAI

CoreWeave Inc. has agreed a five-year contract with OpenAI Inc., according to a person familiar with the matter.

The cloud computing company sealed a pact worth $11.9 billion to provide services to the AI pioneer, the person said, asking not to be identified as the information isn’t public yet.

The deal also gives OpenAI a stake in CoreWeave worth about $350 million, the person said. CoreWeave’s closely-watched potential IPO could raise about $4 billion and value the Nvidia Corp.-backed company at more than $35 billion, Bloomberg News has reported.

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