CoreWeave has secured a five-year contract valued at $11.9 billion to supply AI infrastructure to OpenAI, enhancing the latter’s capacity to train and deploy its models to a global user base. As part of this agreement, OpenAI will invest $350 million in CoreWeave through a private placement during the company’s anticipated initial public offering (IPO).
“Partnering with OpenAI on this net new contract underscores CoreWeave’s proven ability to deliver reliable and performant infrastructure services, powering AI innovations for world-leading AI labs,” said Michael Intrator, Co-Founder and Chief Executive Officer of CoreWeave. “We remain a partner of choice to meet the bleeding-edge needs of pioneers to unleash AI’s potential to change the world.”
“Advanced AI systems require reliable compute, and we’re excited to continue scaling with CoreWeave so we can train even more powerful models and offer great services to even more users,” said Sam Altman, CEO of OpenAI. “CoreWeave is an important addition to OpenAI’s infrastructure portfolio, complementing our commercial deals with Microsoft and Oracle, and our joint venture with SoftBank on Stargate.”
- Contract Value: $11.9 billion over five years
- OpenAI Investment: $350 million in CoreWeave during IPO
- CoreWeave’s Role: Enhancing OpenAI’s model training and service delivery capabilities
- Recently, CoreWeavefiled a Form S-1 with the U.S. Securities and Exchange Commission (SEC) on March 3, 2025, signaling its intent to go public on the Nasdaq under the ticker “CRWV.” The filing, accessible via the SEC’s EDGAR database, underscores the company’s meteoric rise in the artificial intelligence (AI) infrastructure space, propelled by its focus on high-performance computing and a critical partnership with Nvidia.CoreWeave has filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC), signaling its intent to go public on the Nasdaq under the ticker “CRWV.” The filing reveals significant growth, with 2024 revenue reaching $1.92 billion, up from $228.9 million in 2023. However, the company reported a net loss of $863 million in 2024, primarily due to substantial investments in data center infrastructure.
- CoreWeave operates 32 data centers as of the filing, up from 10 in 2023, with 28 operational by the end of 2024. The company plans to expand with over 10 additional facilities in 2025, including its first international sites in the United Kingdom, leveraging colocation providers like Digital Realty and Global Switch. Its infrastructure, optimized for low latency and high throughput, supports over 250,000 Nvidia GPUs, making it a key player in GPU-as-a-Service (GPUaaS) for AI workloads.