AI
CoreWeave signs $4 billion cloud deal with OpenAI, shares rise
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CoreWeave reversed course to gain around 3% on Thursday after the AI cloud firm announced an expanded deal with OpenAI of up to $4 billion, lifting investor sentiment that had taken a hit from the company’s hefty capital spending plans.
OpenAI has committed to pay the Nvidia-backed data center operator through April 2029, CoreWeave said in a regulatory filing.
CoreWeave executives had said on a post-earnings call on Wednesday that they had signed an expansion deal without naming the company. They also added CoreWeave had signed on a new hyperscaler as…
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