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Microsoft Turns Down $12B Data Deal; OpenAI Steps In

3/20/2025

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Summary

Story summary

In a surprising turn, Microsoft has passed on a $12 billion opportunity for extra data-center capacity from CoreWeave, signaling a shift in AI spending strategies among tech giants. Instead, OpenAI has seized the contract. As CoreWeave prepares for a $2.7 billion IPO, the AI sector braces for a pivotal moment under increasing investor scrutiny.

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Story summary

In a surprising turn, Microsoft has passed on a $12 billion opportunity for extra data-center capacity from CoreWeave, signaling a shift in AI spending strategies among tech giants. Instead, OpenAI has seized the contract. As CoreWeave prepares for a $2.7 billion IPO, the AI sector braces for a pivotal moment under increasing investor scrutiny.