In another chess move with Microsoft, OpenAI is pouring $12B into CoreWeave

OpenAI signed a Grandmaster-level chess step Five years, $ 11.9 billion agreement According to Reuters, the GPU-heavy cloud service provided with Korwiv, which quotes people close to the agreement.

The agreement is involved in receiving $ 350 million worth of equity in the Open Corwave, the source told Reuters. Is said to be separated from determining personal space Corouv’s planned IPOThe

Kurweev filed a public company last week, but it has not yet set or determined its first price.

This is a win for both companies. This agreement is one of the reasons for the popping of the eye (in addition to the billions involved) is Microsoft, the largest customer of Kurov before this agreement. In fact, in 2021, Microsoft Korwave had 2% of the revenue of 2%, which was raised to $ 1.5 billion – just over $ 22.5 million in 2021.

The NVIDIA is supported, which holds the percentage, operates an AI-specific cloud service with 12 Data Centers, which operates more than 25,000 NVDia GPU in late 2021, according to the company. Since then, the latest product of the Korwave Nvidia has added more GPUs, including Blackwell, which supports the AI ​​argument, the company said.

Such dependence on a customer is usually worrying for IPO investors, and they could add “hair” as they said, expected to increase $ 4 billion or more to the IPO of Corwev. Landing the OpenAI as a direct customer in a multi-billion dollar contract should help to satisfy investors.

Microsoft and OpenAI’s relationship

It makes this move evenly attractive is that it is degraded between Microsoft and OpenEE, another step in the frame relationship.

It looks like OpenAI CEO Sam Altman saw Microsoft’s use of Corwive and said, “Take my beer.”

Opena will not only have access to the same cloud, but it will also own the company.

Microsoft is a big supporter of Openai in a contract of course Gives Microsoft the right to collect a part Openai’s revenue. However, tensions between the two companies are increasing as the fate of the opening has increased. OPENAE ENTERPRIZE COMPLIES WITH MICROSOFT for Customers and even It is reported that expensive AI agents are working on rotating.

In January, as part of a huge Stargate AI infrastructure agreement with softbank, Oracle and others, Microsoft OpenAIS has stopped The only cloud supplier. OpenAI needs further counting resources. Just last week, Ultman It is alleged that the Open is “out of the GPU”.

As part of this, Microsoft is working on the “logic” models comparable to Microsoft OpenAI O 1 And O3-miniThe It is developing a full family of its own models called MY, which is competitive with OpenAI. It Altman’s rival, Mostafa Sulaiman RentTo lead Microsoft AI.

However, the Corwive is an amazing chess piece.

Korwov started his life as a crypto mining operation founded by the boys of the ex -Hedge Fund, It saysThe The three co-founders have already made cash between $ 488 million dollars — more than $ 150 million. Corewave books also have a wonderful $ 7.9 billion debt.

If the IPO generates billions of new capital, they hope that it will be, the company has said that it will use at least something to pay the debt.

Although this founder was once trying to use the GPU for money literally, they were clearly performing it.

Korwave and Open did not respond to our request to comment.