OpenAI Expands Cloud Resource Purchase Agreement with CoreWeave

First Contract Signed in March
Expanded Purchases in May and September

OpenAI has expanded its cloud computing purchase agreement with data center operator CoreWeave.

Reuters Yonhap News

On September 25 (local time), CoreWeave announced that it has increased its contract to supply data center capacity to OpenAI by up to $6.5 billion. As a result, the total capacity OpenAI can purchase from CoreWeave has grown to as much as $22.4 billion. OpenAI first announced a contract with CoreWeave worth up to $11.9 billion in March, and then signed an additional agreement worth up to $4 billion two months later.

In a statement, CoreWeave said, "This agreement will support the training of OpenAI's next-generation, most advanced artificial intelligence (AI) models." Peter Hoechel, OpenAI's Vice President of Infrastructure and Industrial Computing, stated, "CoreWeave has become a key partner within OpenAI's broader infrastructure platform."

This expansion allows both OpenAI and CoreWeave to reduce their reliance on Microsoft (MS). OpenAI has previously depended on its largest partner, Microsoft's Azure Cloud, but has recently signed cloud computing agreements with several companies. Earlier, OpenAI secured a contract with Oracle for 4.5 GW of computing power, equivalent to the output of four nuclear reactors.

For CoreWeave, a company specializing in AI-focused cloud computing services, Microsoft is also its largest customer. In the April to June quarter, 71% of CoreWeave's revenue came from Microsoft.

On this day, CoreWeave closed at $126.65 on the New York Stock Exchange, down 5.1% from the previous day. Since its initial public offering at $40 in March, CoreWeave's stock price has more than tripled in six months.

This content was produced with the assistance of AI translation services.