CoreWeave, an AI cloud provider backed by Nvidia, has secured a $4 billion agreement with OpenAI, the company behind ChatGPT. This deal will provide cloud computing services through April 2029 and expands an existing partnership that began with a $11.9 billion contract signed in March 2025, which also included an equity stake for OpenAI in CoreWeave.
The announcement came during a post-earnings call on Wednesday, where the deal was revealed to be with OpenAI after initially being described as an unnamed AI company. Following the news, CoreWeave’s stock rose about 3% on Thursday, although investors expressed concerns over the company’s significant capital expenditure plan for 2025, projected to be between $20 billion and $23 billion.
CoreWeave anticipates earning between $4.9 billion and $5.1 billion this year, exceeding Wall Street’s prediction of $4.61 billion. The new agreement with OpenAI adds to the company’s future revenue total, which now stands at $29.9 billion.
As CoreWeave gains prominence in the AI cloud services sector, partnering with major firms like Microsoft and Nvidia, experts are cautious. They warn that the company may face challenges with cash flow and has considerable debt. Nonetheless, CoreWeave’s focus on AI cloud solutions positions it as a key player in the rapidly growing AI industry.
