Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
The CoreWeave-OpenAI-Microsoft drama explained https://t.co/6j8R5bCW3a
According to S-1 of Coreweave - In August 2024, Coreweave agreed to provide MagAI Ventures’ portfolio companies with cloud computing services at a set rate, receiving a refundable $230 million deposit. For a venture with $230 million—probably tied to AI companies—you’d think https://t.co/WTRkRMwrRz
Microsoft Backs Out of $12B CoreWeave Deal, OpenAI Steps In $MSFT Microsoft recently opted not to exercise an option to expand its data center capacity from CoreWeave, a decision amounting to nearly $12 billion. Following this, OpenAI stepped in to secure the deal on March 10.
CoreWeave, a cloud computing company, has recently shifted its partnerships in the artificial intelligence sector. Initially associated with Microsoft, which opted out of a $12 billion deal to expand its data center capacity with CoreWeave, OpenAI has now stepped in to secure this arrangement as of March 10. Prior to this, CoreWeave had also partnered with major AI players, including OpenAI, led by Sam Altman. Additionally, according to CoreWeave's S-1 filing, the company agreed in August 2024 to provide cloud computing services to MagAI Ventures’ portfolio companies for a refundable deposit of $230 million. This move highlights CoreWeave's growing involvement in the AI space and its efforts to attract investor interest.
