Michael Intrator, co-founder and CEO of CoreWeave Inc. in an interview on the floor of the New York Stock Exchange (NYSE), USA, USA.
Michael Nuggle | Bloomberg | Getty Images
coreweave On Thursday, it announced a $6.5 billion deal with Openai, expanding its current contract with the artificial intelligence startup behind ChatGPT.
The new agreement will bring the total contract with AI cloud infrastructure provider OpenAI to $22.4 billion.
“This milestone confirms the trust that world-leading innovators have in CoreWeave’s ability to enhance their most demanding reasoning and training workloads at an unparalleled pace,” CoreWeave CEO Michael Intrator said in a statement.
In March, CoreWeave announced a $11.9 billion contract with OpenAI to deliver AI data centers and technology over five years. Intrator told CNBC in May that the company had expanded its contracts by $4 billion.
CoreWeave, which was released in March, makes money by renting and building numerous data centers nvidia Graphic processing unit. The company is supported by Nvidia and has earned a significant portion of the revenue from Microsoftthis is an important investor in Openai.
At the time of the prospectus, CoreWeave said it had operated 32 data centers with over 250,000 NVIDIA GPUs. Its data center plans span the United States and parts of Europe, including the UK, Spain and Sweden.
CoreWeave’s latest projects include a $6 billion transaction with its first 100 megawatt data center in Lancaster, Pennsylvania, and a multi-billion dollar commitment to building AI data center capacity in the UK.
Companies across the AI sector are racing to meet booming demand for computing capabilities. It has increased pressure on companies such as Open AI and Nvidia.
Openai CEO Sam Altman told CNBC’s Jon Fortt earlier this month that the calculation constraints facing AI companies and the industry are “awful.”
“We are now limited to the services we can provide,” he added.
Earlier this month, CoreWeave’s stock came after the company disclosed an $6.3 billion order from Nvidia.
Monitoring: CoreWeave CEO: Building AI infrastructures trillions with public and private investment
