Cloud computing provider CoreWeave has signed a $12 billion deal with OpenAI. This allows the company to recoup the loss it suffered from Microsoft’s collaboration breakdown before going public. With support from OpenAI, CoreWeave secured a deal worth close to $12 billion. This agreement provided significant support for CoreWeave ahead of its upcoming IPO next month. CoreWeave will provide computational power to train and run OpenAI’s artificial intelligence models. The two companies signed a five-year agreement for this purpose. With the $12 billion contract from OpenAI, the company aims to fill the gap left by Microsoft. The cloud computing provider had plans to increase its valuation to over $35 billion with a $4 billion target. However, the news from Microsoft disrupted these plans. Last week, Microsoft withdrew from some agreements due to delivery issues and missed deadlines. Microsoft was set to spend over $10 billion on CoreWeave services within five contracts until 2030, representing 62% of the cloud provider’s revenue.