OpenAI and CoreWeave have reached a deal in which OpenAI will receive $350 million in CoreWeave stock linked to the cloud computing provider's upcoming IPO. CoreWeave will not receive any proceeds from the issuance of the shares to OpenAI. This deal provides OpenAI with additional computing resources beyond its primary partner, Microsoft. For CoreWeave, the agreement offers a significant boost ahead of its anticipated $35 billion public offering. However, despite its success in generating revenue, CoreWeave still faces financial challenges. The deal with OpenAI follows CoreWeave's plans to acquire AI developer platform Weights & Biases. CoreWeave, originally a crypto mining operation, transitioned to providing specialized AI infrastructure in 2019 and has become one of Nvidia's largest customers.



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