- Microsoft Corp (NASDAQ:MSFT) has agreed to spend potentially billions of dollars over multiple years on cloud computing infrastructure from startup CoreWeave.
- CoreWeave, announced Wednesday that it raised $200 million from hedge fund Magnetar Capital just over a month after the company reached a valuation of $2 billion, CNBC cites familiar sources.
- CoreWeave sells simplified access to Nvidia Corp’s (NASDAQ:NVDA) graphics processing units, which are ideal for running AI models. Nvidia invested $100 million in the prior financing.
- Microsoft inked the CoreWeave deal this year to ensure adequate computing power for OpenAI, which operates the viral ChatGPT chatbot.
- Reportedly, Oracle Corp (NYSE:ORCL) and Microsoft discussed a deal to rent servers lest they run out of computing power for large-scale AI customers.
- Microsoft needs additional ways to tap Nvidia’s GPUs to remain at the top of the AI game fueled by the ChatGPT war.
- Nvidia joined the club of U.S. companies with a $1 trillion market value on Tuesday, buoyed by the AI boom.
- Price Action: MSFT shares traded higher by 0.20% at $333.25 premarket on the last check Friday.
Apple, Nvidia, Or Microsoft, Who Will Reach $4 Trillion Valuation First? Top Analyst Lays Out Bull Thesis For Tim Cook’s Company, Predicts Potential 270M iPhone Upgrades
Apart from Apple, Microsoft and Nvidia are the two other frontrunners in the race to $4 trillion market capitalization, according to him.
