American artificial intelligence research organisation OpenAI has backed cloud service provider CoreWeave with $12 billion in investment to spite Microsoft.
Reports say OpenAI, owned by Sam Altman, has signed a five-year, $11.9 billion deal with CoreWeave, a company for which Microsoft accounted for 62% of its revenue in 2024.
According to individuals who spoke to Reuters, the deal entails OpenAI acquiring $350 million worth of CoreWeave stock; the private placement is reportedly distinct from CoreWeave’s anticipated initial public offering.
