CoreWeave denies reports of its major client, Microsoft Corporation (MSFT.US), revoking their cooperation.

The Financial Times reported, citing sources familiar with the matter, that Microsoft Corporation (MSFT.US) has exited part of its agreement with cloud computing provider CoreWeave due to delivery issues and missing deadlines. The report indicated that the American tech giant has retained several ongoing contracts with CoreWeave and that CoreWeave remains an important partner. A CoreWeave spokesperson denied the report, stating, "We are proud of our collaboration with our clients, and there have been no cancellations of contracts or broken commitments. Any claims to the contrary are false and misleading. CoreWeave has been providing high-performance AI infrastructure at scale, earning the trust of world-leading AI labs and enterprises." CoreWeave provides computing capabilities for data centers for Microsoft Corporation, which uses these capabilities to scale up AI models like OpenAI's ChatGPT. The report noted that this collaboration is valued at billions of dollars for CoreWeave. NVIDIA Corporation (NVDA.US)-backed CoreWeave is preparing for a $4 billion initial public offering (IPO), with the company's valuation potentially exceeding $35 billion. In its IPO filing submitted on March 3rd, CoreWeave stated that Microsoft Corporation is its largest customer in 2023 and 2024, accounting for 35% and 62% of its revenue, respectively. In the filing, CoreWeave stated, "The demands of Microsoft Corporation, Microsoft Corporation's ability or willingness to fulfill our contracts, laws or regulations applicable to Microsoft Corporation or its operating regions, any adverse changes to our broader strategic relationship with Microsoft Corporation, could have a negative impact on our business, operating performance, financial condition, and future prospects." The report also mentioned that Microsoft Corporation has agreed to invest over $10 billion in CoreWeave services by 2030, as per five contracts signed by both parties. On Tuesday, CoreWeave announced the acquisition of the AI development platform Weights & Biases.