CoreWeave has experienced a dramatic surge in revenue, reporting a remarkable 420% increase year-over-year for the first quarter ending March 31st. This marked a significant jump from $188.7 million recorded in the same period last year. The company’s strong performance was driven by a multi-year agreement with OpenAI, valued at up to $11.9 billion, and saw Microsoft account for a significant portion of their revenue in 2024. Notably, OpenAI secured an additional $4 billion partnership with CoreWeave following the first quarter’s end, further solidifying the collaboration between these two entities. This new agreement focuses on providing cloud computing solutions to OpenAI.