CoreWeave's stock performance is closely watched after the announcement of an expanded cloud deal with OpenAI, valued at $4 billion. This agreement commits OpenAI to payments through April 2029. The deal supplements an existing five-year contract worth $11.9 billion, where CoreWeave provides cloud computing capacity to OpenAI.
The expanded partnership highlights CoreWeave's strategic position in the AI infrastructure landscape. CoreWeave reported a revenue backlog of $25.9 billion as of March 31, 2025, significantly influenced by its agreements with OpenAI.
CoreWeave's capital expenditure for Q2 2025 is projected to be between $3 billion and $3.5 billion, exceeding revenue expectations of $1.06 billion to $1.1 billion. The company's total planned investment in AI infrastructure and data center capacity for 2025 is between $20 billion and $23 billion.