According to Foresight News, CoreWeave has released its first financial report since going public, revealing a substantial 420% increase in revenue for the first quarter ending March 31, compared to the same period last year, when it earned $188.7 million. During this quarter, CoreWeave entered into a five-year agreement with OpenAI, valued at up to $11.9 billion.
Additionally, Microsoft accounted for 62% of CoreWeave's revenue in 2024. CoreWeave CEO Mike Intrator, in an interview with CNBC, disclosed that beyond the initial five-year agreement, OpenAI signed an additional $4 billion collaboration deal with CoreWeave after the first quarter ended. This agreement involves CoreWeave providing cloud computing capabilities to OpenAI.