NEW JERSEY: 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 US$11.9bil to provide services to the artificial intelligence 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 US$350mil, the person said.
CoreWeave’s closely-watched potential iinitial public offering could raise about US$4bil and value the Nvidia Corp-backed company at more than US$35bil, Bloomberg News has reported.
No final decisions have been made, the people said. Reuters was first to report the details of the contract.
Representatives for CoreWeave and OpenAI didn’t immediately respond to requests for comment.
OpenAI has sealed a number of sizeable agreements with technology companies. — Bloomberg
