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Former Ethereum Miner CoreWeave Inks an AI Deal With Microsoft

AA News - George Georgiev 2023-06-03 21:45

The cryptocurrency industry continues to comingle with that of artificial intelligence in what is reported as a new deal between tech heavyweight Microsoft and former Ethereum miner – CoreWeave.

  • According to recent coverage by CNBC, Microsoft has signed a deal with the former Ethereum miner – CoreWeave.
  • It’s worth noting that CoreWeave has spun up its usage of cloud computing infrastructure from Ethereum mining and is currently one of the rapidly developing providers.
  • It recently attained a valuation of $2 billion.
  • The financials of the deal with Microsoft haven’t been disclosed, but according to sources familiar with the matter and cited by CNBC, the tech behemoth has agreed to spend “potentially billions of dollars over multiple years.”
  • At the beginning of 2023, Microsoft also invested a whopping $10 billion in OpenAI – the firm behind the popular AI-based chatbot ChatGPT.
  • Sam Altman – the CEO of OpenAI – in turn, is now spearheading a cryptocurrency project called Worldcoin. He was successful in securing funding of $115 million to build the project, which involves high-precision retina scans and is backed by crypto’s most prominent VCs.

Featured image courtesy of CNET

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