Bitcoin

Bitcoin

$119,927.01

BTC 0.76%

Ethereum

Ethereum

$2,999.11

ETH 0.14%

  • Login
  • Register
Metaverse Media Group
  • Home
  • Crypto
  • NFTs
  • Artificial Intelligence
  • More
    • Technology
    • Business
    • Newsletter
No Result
View All Result
  • Home
  • Crypto
  • NFTs
  • Artificial Intelligence
  • More
    • Technology
    • Business
    • Newsletter
No Result
View All Result
Metaverse Media Group

CoreWeave strikes $11.9B deal with OpenAI to deliver AI infrastructure

CoreWeave strikes $11.9B deal with OpenAI to deliver AI infrastructure

Coin Telegraphby Coin Telegraph
11 March 2025
CoreWeave announced on March 11 that it had struck a five-year deal worth up to $11.9 billion with OpenAI, the nonprofit research and development company that created ChatGPT. Through the deal, OpenAI will become an investor in CoreWeave through the issuance of $350 million of stock, while CoreWeave will deliver AI infrastructure.The deal…

CoreWeave strikes $11.9B deal with OpenAI to deliver AI infrastructure

CoreWeave announced on March 11 that it had struck a five-year deal worth up to $11.9 billion with OpenAI, the nonprofit research and development company that created ChatGPT. Through the deal, OpenAI will become an investor in CoreWeave through the issuance of $350 million of stock, while CoreWeave will deliver AI infrastructure.

The deal comes ahead of the anticipated CoreWeave initial public offering (IPO). According to its offering filing, the company, founded in 2017 in Livingston, New Jersey, reported $1.9 billion in revenue with a net loss of $863 million in 2024. CoreWeave provides cloud-based GPU infrastructure to AI developers.

The new deal may provide a boost to CoreWeave, as roughly two-thirds of the company’s revenue came from Microsoft, which had planned to spend $10 billion on CoreWeave by 2030. According to a report from the Financial Times, Microsoft has canceled some contracts with the AI company due to missed deadlines, though CoreWeave has denied this.

Related: Core Scientific to host more CoreWeave infrastructure, targets $8.7B revenue

CoreWeave’s main competitors are Amazon, Oracle and Google, along with smaller clients DataCrunch, Lambda and Foundry.

Cloud AI market expected to grow by 30.9% CAGR until 2030

The cloud artificial intelligence market is expected to grow significantly in the coming years, according to Fortune Business Intelligence. In 2022, the size of the market was estimated to be $46.7 billion. By 2030, it is expected to be $398 billion. The compound annual growth rate during that time period is estimated to be 30.9%.

Cloud AI involves a combination of cloud computing and artificial intelligence services that businesses can use to theoretically increase their revenue. Some of the aspects of a business that these services touch on include scalability, predictive analytics and cost savings by not having to build their own AI model.

Related: Saudi Arabia partners with tech giants in $14.9B AI expansion

There are budding integrations with Cloud AI and blockchain as well. As Cointelegraph reported, one of the challenges with integrating AI and blockchain is scalability and processing power, which cloud computing platforms aim to help solve. These integrations may impact Web3 gaming as well.

But, while the fusion of these technologies is promising, there are roadblocks, including the centralization within the cloud computing industry.

Magazine: Creating ‘good’ AGI that won’t kill us all — Crypto’s Artificial Superintelligence Alliance

Read the full article on Cointelegraph.com
in AI
Reading Time: 3 mins read
0
0
76
VIEWS
Share on TwitterShare on Facebook

Subscribe to our newsletter

For the latest news & monthly prize giveaways
Join Now

Subscribe to our newsletter

For the latest news & monthly prize giveaways
Join Now
ADVERTISEMENT

Related Posts

Vulnerable kids are nearly three times more likely to use companion AI chatbots for friendship
AI

Vulnerable kids are nearly three times more likely to use companion AI chatbots for friendship

4 hours ago
21
Bloomberg: China’s AI expansion in Xinjiang relies on Nvidia chips despite U.S. export controls
AI

Malaysia tightens grip on US AI chip shipments

4 hours ago
21
AI system StreamDiT generates livestream videos from text at 16 fps 512p
AI

AI system StreamDiT generates livestream videos from text at 16 fps 512p

1 day ago
22

Comments

Please login to join discussion
ADVERTISEMENT

Latest News

  • All
  • Crypto
  • NFTs
  • Technology
  • Business
Bitcoin Is Now Worth More Than Google and Amazon
Crypto

Bitcoin Is Now Worth More Than Google and Amazon

Bitcoin.com News
by Bitcoin.com News
52 minutes ago
21
2011 Mega Whale Moves Again: $2.4B in Bitcoin Vanishes Into New Address
Crypto

2011 Mega Whale Moves Again: $2.4B in Bitcoin Vanishes Into New Address

Bitcoin.com News
by Bitcoin.com News
1 hour ago
20
Ethereum Has Torched $13.5B in ETH — But the Supply Keeps Growing
Crypto

Ethereum Has Torched $13.5B in ETH — But the Supply Keeps Growing

Bitcoin.com News
by Bitcoin.com News
2 hours ago
21
GM’s Final EV Battery Strategy Copies China’s Playbook: Super Cheap Cells
Business

GM’s Final EV Battery Strategy Copies China’s Playbook: Super Cheap Cells

Wired
by Wired
2 hours ago
21
Digital Currency Group’s Grayscale Plans Public Listing
Crypto

Digital Currency Group’s Grayscale Plans Public Listing

Bitcoin.com News
by Bitcoin.com News
3 hours ago
21
Bitcoin Soars $15K Post-Spending Bill as Dollar Slides, Kobeissi Letter Notes
Crypto

Bitcoin Soars $15K Post-Spending Bill as Dollar Slides, Kobeissi Letter Notes

Bitcoin.com News
by Bitcoin.com News
4 hours ago
21
Load More
Next Post
Hong Kong fintech sector sees 250% blockchain growth since 2022

Hong Kong fintech sector sees 250% blockchain growth since 2022

ADVERTISEMENT

Follow Us

Categories

  • Crypto
  • NFTs
  • AI
  • Technology
  • Business
  • Crypto
  • NFTs
  • AI
  • Technology
  • Business
Subscribe to our Newsletter

© 2022 Metaverse Media Group – The Metaverse Mecca

Privacy and Cookie Policy | Sitemap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Crypto
  • NFTs
  • Artificial Intelligence
  • More
    • Technology
    • Business
    • Newsletter
Bitcoin

Bitcoin

$119,927.01

BTC 0.76%

Ethereum

Ethereum

$2,999.11

ETH 0.14%

  • Login
  • Sign Up
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Subscribe to our newsletter

Get the latest news & win monthly prizes

Subscribe to our newsletter

For the Latest News and Monthly Prize Giveaways

Join Now
Join Now