In a grandmaster-level chess move, OpenAI has signed a five-year, $11.9 billion agreement with the GPU-heavy cloud service provider CoreWeave, which

The deal will give OpenAI a stake in CoreWeave, which will issue shares worth $350 million through a private placement at the time of its IPO.

CoreWeave, an artificial intelligence startup backed by Nvidia , has signed a five-year contract worth $11.9 billion with OpenAI ahead of its hotly anticipated stock market launch.

Nvidia-backed artificial intelligence startup CoreWeave has inked a five-year, $11.9 billion deal with OpenAI ahead of its eagerly awaited stock market debut. TakeAway Points: CoreWeave will privately place $350 million worth of shares in OpenAI.

OpenAI is ramping up its competition with Microsoft for enterprise customers by investing heavily in artificial intelligence (AI) advancements and strategic partnerships. The company is reportedly working on the rollout of high-priced AI agents and has also hired Mustafa Suleyman,

CoreWeave, a cloud service provider specialising in GPU-heavy workloads, has signed a $11.9bn deal to provide AI infrastructure to OpenAI. This deal is expected to bolster OpenAI's compute capacity, which is said to be crucial for training and deploying advanced AI models to its global user base.

The latest news comes amid a move toward a potential IPO for the Jersey-born company, which "remain[s] a partner-of-choice to meet the bleeding-edge needs of pioneers to unleash AI’s potential to change the world,

CoreWeave signed a five-year, $11.9 billion deal to provide AI infrastructure to OpenAI and will receive $350 million in CoreWeave shares.

CoreWeave, a fast-rising AI cloud provider backed by NVIDIA, has landed a massive $11.9 billion contract with OpenAI in a move that could significantly boost its upcoming initial public offering (IPO).