Amid the growing excitement in the AI industry, CoreWeave and OpenAI have recently announced an expanded collaboration. This latest leasing agreement marks their third partnership within the year, with a maximum contract value of $6.5 billion, pushing the total accumulated contract value between the two companies to $22.4 billion. Since the initial agreement in early March, CoreWeave's contract value has continuously increased, starting at $11.9 billion, then adding another $4 billion, and now reaching an impressive leap.
CoreWeave, an emerging company widely regarded as an "NVIDIA favorite," has seen its stock price rise by approximately 50% since early September. It has attracted significant attention in the market. Although the stock price of CoreWeave fell by more than 6% before the latest announcement, it quickly rebounded after the news was released, showing investors' confidence in the company.
However, the release of this contract coincided with a period of "fatigue" in the U.S. stock market regarding the AI investment boom. Recently, OpenAI has announced hundreds of billions of dollars in deals, raising concerns about the sustainability of its investments. For example, OpenAI just signed a $300 billion agreement with Oracle, planning to establish multiple AI data centers in the coming years, making CoreWeave's $22.4 billion seem "negligible."
Sam Altman, CEO of OpenAI, responded that the current investment boom is a natural reaction from tech giants to the growing demand for AI. He believes that although there are doubts about the massive investments, these construction plans are essential to realize the potential of AI.
NVIDIA, an important shareholder of CoreWeave, is supporting the development of this emerging company by providing high-performance AI chips. CoreWeave recently signed a $6.3 billion procurement agreement with NVIDIA, which stipulates that if the computing power is not sold to customers, NVIDIA will take responsibility for repurchase.
In the rapidly evolving AI market, the ongoing collaboration between CoreWeave and OpenAI is not only a resource integration between enterprises but also signals the infinite possibilities in the field of AI. Investors will continue to closely watch every new development in this AI revolution.
