Nvidia-backed AI cloud provider CoreWeave has reached a new milestone with an agreement worth $4 billion to provide cloud computing services to OpenAI, the creator of ChatGPT, until April 2029. This deal builds on an existing partnership established in March 2025, which included a $11.9 billion five-year contract and an equity stake for OpenAI within CoreWeave. A post-earnings call announcement revealed the expanded agreement with OpenAI, confirming the initial unnamed AI enterprise to be the company. Following the news, CoreWeave’s stock saw a 3% surge on Thursday, though investors remain cautious about the company’s substantial capital expenditure plan estimated to reach $20 billion to $23 billion in 2025.