CoreWeave (CRWV) provided additional details on its relationship with OpenAI in its quarterly filing this morning following last night’s Q1 report. The shares are now in positive territory after selling off at the open. In March, CoreWeave entered into a commercial agreement with OpenAI, pursuant to which the company provides OpenAI access to cloud computing capacity through fulfillment of reserved capacity orders submitted to the company by OpenAI. As of March 31, subject to the satisfaction of delivery and availability of service requirements, OpenAI has committed to pay CoreWeave up to $11.9B through October 2030. OpenAI has committed to pay the company up to $4.0B through April 2029 related to this agreement, CoreWeave disclosed. Shares of CoreWeave are up 3%, or $1.73, to $69.19 in morning trading.
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