CoreWeave, a fast-rising AI cloud provider backed by NVIDIA, has landed a massive $11.9 billion contract with OpenAI in a move that could significantly boost its upcoming initial public offering (IPO). The five-year deal, confirmed on Monday, will see CoreWeave provide AI infrastructure to OpenAI, the creator of ChatGPT.

CoreWeave, a cloud service provider specialising in GPU-heavy workloads, has signed a $11.9bn deal to provide AI infrastructure to OpenAI. This deal is expected to bolster OpenAI's compute capacity, which is said to be crucial for training and deploying advanced AI models to its global user base.

CoreWeave's partnership with OpenAI strengthens AI computing power and boosts its IPO prospects, with Nvidia playing a key role

CoreWeave, an artificial intelligence startup backed by Nvidia , has signed a five-year contract worth $11.9 billion with OpenAI ahead of its hotly anticipated stock market launch.

CoreWeave Inc. has agreed a five-year contract with OpenAI Inc., according to a person familiar with the matter.Most Read from BloombergNJ College to Merge With State School After Financial StressNYC Congestion Pricing Toll Gains Support Among City ResidentsWhere New York City's Zoning Reform Will Add HousingBuffalo’s Billion-Dollar Freeway Fix Is on Ice,