6/1, 7:55 PM (Source: TeleTrader)
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Microsoft closes deal with Nvidia-backed CoreWeave

Microsoft has closed a deal with CoreWeave, a company that sells simplified access to Nvidia's GPUs, CNBC reported Thursday, citing people with knowledge of the topic.

The report claims that the tech giant is willing to pay billions of dollars over several years to invest in cloud computing infrastructure. According to the sources, Microsoft signed the deal with CoreWeave earlier this year to ensure that OpenAI has adequate computing power. Both Microsoft and CoreWeave declined to make comments.

The news comes at a time when Nvidia shares are trading up 170% year-to-date. Meanwhile, at 2:09 pm ET, Microsoft's shares jumped by 1.01% to sell for $331.67.

Baha Breaking News (BBN) / JG