OpenAI has struck a five-year deal with AI data center provider CoreWeave valued at $11.9 billion, according to media reports citing sources with knowledge of the matter.
CoreWeave will provide dedicated compute capacity to OpenAI, allowing it to train more powerful models and deliver services to a growing user base.
Per the reports, OpenAI will receive a stake in Nvidia-backed CoreWeave worth about $350 million tied to the company’s initial public offering.
CoreWeave is expected to debut on the Nasdaq in the next few weeks.
"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," CoreWeave CEO Michael Intrator said in a statement.
"We remain a partner-of-choice to meet the bleeding-edge needs of pioneers to unleash AI's potential to change the world."
Sam Altman, OpenAI CEO, added: "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."