💨 Abstract

Artificial intelligence startup CoreWeave, backed by Nvidia, has signed a $11.9 billion, five-year contract with OpenAI ahead of its IPO. As part of the agreement, CoreWeave will provide AI infrastructure to OpenAI, granting OpenAI a stake in CoreWeave. The deal will occur through a private placement of shares worth $350 million during CoreWeave's IPO.

Courtesy: theprint.in

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