Former Ethereum miner, CoreWeave entered into a deal with Microsoft just a few days after it announced an additional funding round.

Microsoft has reportedly entered into an agreement with CoreWeave, a former Ethereum miner, to leverage its artificial intelligence (AI)-powered services with CoreWeave’s cloud computing infrastructure.

Figure 1. Microsoft and CoreWeave strike an AI cloud computing agreement

Figure 1. shows As per a report dated June 1 that cites “people with knowledge of the matter,” Microsoft is most likely going to spend billions of dollars on this deal with CoreWeave for a period spanning multiple years.

One of the sources of CNBC claimed that the deal was signed earlier in 2023. In the midst of AI technology growing rapidly over the past 12 months, Microsoft has launched many different AI-powered services.

A key example of such launches would be the integration of OpenAI’s GPT-4 with its web browsers Bing and Microsoft Edge, for which the company recently axed the waitlist.

OpenAI also utilises Azure, the cloud computing infrastructure of Microsoft, for handling its sizable computing requirements.

CoreWeave had begun its operations as an Ethereum miner in 2017, by utilising graphics processing units (GPUs) for validating transactions on Ethereum during its growing days as a proof-of-work blockchain.[1]

Amid the rapid growth of AI tech over the past 12 months, Microsoft has rolled out several AI-powered services. A prime example is OpenAI’s GPT-4 integration with its web browsers Bing and Microsoft Edge, which the firm recently axed the waitlist for.

CoreWeave started off as an Ethereum miner in 2017, utilizing graphics processing units (GPUs) to verify transactions on Ethereum during its formative days as a proof-of-work blockchain.

The firm started pivoting its focus to cloud GPU computing around 2019 after spotting a hole in the market for competitively priced, scalable and varied compute options — something it claimed legacy providers weren’t offering.

References:

1. https://www.forbesindia.com/article/cryptocurrency/ai-cloud-computing-deal-signed-between-microsoft-and-coreweave/85463/1
2. https://cointelegraph.com/news/microsoft-pens-ai-cloud-computing-deal-with-core-weave

Cite this article:

Gokula Nandhini K (2023), Future of Robotic Process Automation (RPA), Anatechmaz, pp.105