'Microsoft inks deal for A.I. computing power with Nvidia-backed CoreWeave that could be worth billions' -CNBC Report
Portfolio Pulse from Benzinga Newsdesk
Microsoft has signed a deal with Nvidia-backed CoreWeave to provide AI computing power, potentially worth billions, to meet the cloud demand of OpenAI.
June 01, 2023 | 5:50 pm
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Microsoft's deal with CoreWeave could boost its AI capabilities and strengthen its position in the cloud market.
The deal with CoreWeave will provide Microsoft with AI computing power to meet the cloud demand of OpenAI. This partnership could potentially be worth billions and will likely strengthen Microsoft's position in the cloud market, making it more competitive against rivals like Amazon Web Services and Google Cloud.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Nvidia-backed CoreWeave's deal with Microsoft could increase demand for Nvidia's AI hardware and boost its stock.
As CoreWeave is backed by Nvidia, the deal with Microsoft could lead to increased demand for Nvidia's AI hardware. This increased demand could positively impact Nvidia's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 60