CoreWeave signs new $4 billion contract with OpenAI to deepen AI infrastructure collaboration

OpenAI has signed a new $4 billion contract with CoreWeave after Quarter 1 closes, CoreWeave disclosed in its first post-IPO earnings report. The agreement is in addition to the five-year, $11.90 billion partnership between the two parties within Quarter 1.
CoreWeave CEO Mike Intrator said the new contracts reflect strong customer demand for its infrastructure services, rather than price increases. Notably, OpenAI also relies on Microsoft's infrastructure services, which will generate 62% of CoreWeave's revenue in 2024.