
Cloud Provider CoreWeave Inks $11.9 Billion Contract With OpenAI
The cloud computing company sealed a pact worth $11.9 billion to provide services to the AI pioneer, the person said, asking not to be identified as the information isn't public yet.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
8 minutes ago
- Yahoo
Xiaomi Unveils New AI Voice Model to Boost Auto, Home Tech
(Bloomberg) — Xiaomi Corp. (XIACY, XIACF) on Monday released an open-source voice model to complement its automotive and home appliance technologies, further heating up the race to build AI tools for more than just text. We Should All Be Biking Along the Beach Seeking Relief From Heat and Smog, Cities Follow the Wind Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance The new MiDashengLM-7B is based on Xiaomi's foundational voice model, which has been deployed in cars and smart home gadgets, with integration of Alibaba Group Holding Ltd.'s open-source Qwen2.5-Omni-7B. The Beijing-based phone and auto maker detailed the advancements and provided benchmarks in a post on its WeChat account. Xiaomi has been aggressively pursuing new growth drivers outside of its core smartphone business, with electric vehicles now fast becoming one of its priority business areas. At the same time, investing in the development of artificial intelligence has grown into an overriding priority across China's tech sector, and many of the leading companies have opted to make their work open source to secure customers. Major Chinese internet companies from Alibaba to Tencent Holdings Ltd. have released various models that can handle images, video and sound in recent months to better compete with the likes of OpenAI's Sora. Both US President Donald Trump and Chinese leader Xi Jinping have emphasized the need for their countries to secure a leading position in the AI race. How Podcast-Obsessed Tech Investors Made a New Media Industry Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off What's Really Behind Those Rosy GDP Numbers? Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Sign up for Yahoo Finance's Week in Tech By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy
Yahoo
8 minutes ago
- Yahoo
India's Bharti Airtel launches cloud services for telecom operators
(Reuters) -Bharti Airtel, India's no. 2 telco, said on Monday its digital arm Xtelify launched a cloud platform which can optimise up to 40% in cloud spends for Indian businesses. The company said it also entered a partnership with Singtel, Airtel Africa and Globe Telecom for a newly launched AI platform. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data


Entrepreneur
10 minutes ago
- Entrepreneur
OpenAI Raises USD 8.3 Bn at USD 300 Bn Valuation
Earlier in March, OpenAI had raised USD 2.5 billion and was expected to collect an additional USD 7.5 billion by the year's end. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. OpenAI, the AI company behind ChatGPT, has secured USD 8.3 billion in a fresh funding round, valuing the firm at USD 300 billion, according to The New York Times. The round is part of OpenAI's broader goal of raising USD 40 billion this year and was completed ahead of schedule. Earlier in March, OpenAI had raised USD 2.5 billion and was expected to collect an additional USD 7.5 billion by the year's end. However, increased investor demand allowed the company to finish this stage sooner than planned. The latest funding was led by Dragoneer Investment Group with a USD 2.8 billion investment. Other major participants include Blackstone, TPG, T. Rowe Price, Altimeter Capital, Andreessen Horowitz, Coatue Management, D1 Capital Partners, Fidelity Management, Founders Fund, Sequoia Capital, Tiger Global, and Thrive Capital. Reports indicate that some existing investors received smaller allocations than anticipated to accommodate new strategic backers. The fundraising comes amid significant growth in OpenAI's business performance. The Information estimates the company's annualised revenue at around USD 12 billion, while The New York Times places the figure closer to USD 13 billion. ChatGPT now records over 700 million weekly active users, reflecting its widespread adoption. Projections suggest that OpenAI could achieve USD 20 billion in annualised revenue by the end of 2025. At the same time, the company has revised its projected cash burn for 2025 to USD 8 billion, up from a previous estimate of USD 7 billion. The second stage of the USD 40 billion fundraising is already in motion, with approximately USD 7.5 billion in commitments secured. This includes renewed investments from Sequoia Capital and Tiger Global. SoftBank, which began investing in the company in late 2024, has committed a total of USD 32 billion. OpenAI continues to maintain a close relationship with Microsoft, which has integrated its technology into various products. The company is also exploring new commercial and strategic partnerships, which could lead to updates in its collaboration with Microsoft.