Cloud computing provider CoreWeave has signed a $12 billion deal with OpenAI. This opportunity allows the company to recover from the loss incurred with the breakdown of its collaboration with Microsoft prior to going public. OpenAI came to support CoreWeave after their partnership with Microsoft fell apart. An agreement worth nearly $12 billion was signed between OpenAI and CoreWeave. This deal has provided a significant backing for CoreWeave ahead of the upcoming public offering planned for next month. CoreWeave will provide computing power to train and run OpenAI’s artificial intelligence models. The two companies have signed a five-year agreement for this purpose. With the $12 billion contract from OpenAI, the company will try to fill the gap left by Microsoft. The cloud computing provider aimed to increase its valuation beyond $35 billion with a target of $4 billion. However, plans were disrupted by news from Microsoft last week, as the tech giant withdrew from some agreements due to delivery issues and missed deadlines. Microsoft was set to spend over $10 billion on CoreWeave services under five contracts until 2030, representing 62% of the cloud provider’s revenue.