The intersection of the cryptocurrency and artificial intelligence industries is once again in the news with reports of a new agreement between Microsoft and former Ethereum miner, CoreWeave.
- CNBC reports that Microsoft has signed a deal with CoreWeave, which has shifted its focus to cloud computing infrastructure from Ethereum mining and is now one of the fastest growing providers in the field.
- CoreWeave was recently valued at $2 billion.
- The details of the financial agreement with Microsoft have not been disclosed, but sources familiar with the matter state that the tech giant has committed to spending “potentially billions of dollars over multiple years.”
- Earlier this year, Microsoft also made a $10 billion investment in OpenAI, the company that developed the popular AI-based chatbot ChatGPT.
- OpenAI CEO Sam Altman is now leading a cryptocurrency project called Worldcoin, which received $115 million in funding from prominent VCs.
Featured image courtesy of CNET
