Microsoft Corporation plans to invest around $10 billion in the cloud-computing startup CoreWeave between 2023 and 2030, the Information reported on Friday, citing CoreWeave's announcement to investors.
The tech giant reportedly plans to run artificial intelligence models using CoreWeave's data centers, and according to the information that investors allegedly received from the startup, the total value of signed contracts reached $17 billion, for an unspecified time period. According to the report, Coreweave also told investors it expects a revenue of about $2 billion this year and to turn a profit on a net income basis. At the same time, it anticipated its revenue to quadruple in the next year, partly due to its deal with Microsoft.
Earlier this year, Microsoft also made deals with Abu Dhabi's G42 and the American tech company Oracle to increase its data center capacity, which is slowing down the growth in the company's Azure cloud unit.
