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MARKETS LIVE BLOG:

STOCKS TRADE HIGHER; DISNEY SINKS AFTER EARNINGS

Disney's surprise streaming entertainment profit offset by weaker TV business

UPDATE 1-Microsoft inks computing infra deal with CoreWeave - CNBC

Reuters
·1 min read

(Adds Microsoft declined to comment in paragraph 3)

June 1 (Reuters) - Microsoft Corp may spend billions of dollars over multiple years on computing infrastructure from start-up CoreWeave, CNBC reported on Thursday, citing people familiar with the matter.

The Windows maker had signed the CoreWeave deal earlier this year in order to ensure that OpenAI, which operates the viral ChatGPT chatbot, will have adequate computing power, according to the report.

Microsoft declined to comment, while CoreWeave did not immediately respond to Reuters' request for a comment.

CoreWeave, valued at $2 billion and which counts Nvidia Corp among its investors, has raised more than $400 million over the last two months.

New York-based CoreWeave specializes in providing cloud computing services based on graphics processing units, the category of chip pioneered by Nvidia that has become central to artificial intelligence services like OpenAI's ChatGPT. (Reporting by Yuvraj Malik in Bengaluru; Editing by Shilpi Majumdar)