OpenAI committed to pay CoreWeave up to about $6.5 billion through 2031 in an order form signed Sep 23, 2025

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

On Sep 23, 2025, CoreWeave and OpenAI entered into a new order form under their master services agreement dated May 8, 2025. CoreWeave disclosed it in a Form 8-K filed Sep 25, 2025, the report a US-listed company files when a material event occurs; this one came under item 1.01, which covers the entry into a material agreement.1^,2^,3^,4

As the 8-K described it, CoreWeave provided OpenAI access to cloud computing capacity through reserved capacity orders that OpenAI submitted to it. OpenAI committed to pay up to approximately $6.5 billion through May 31, 2031, subject to any termination and to delivery and availability of service requirements. Either party could end the master services agreement, or any order under it, for cause, and the 8-K said that agreement would stay in place until every order under it had expired or been terminated, or the master services agreement itself was terminated under its terms.5^,6^,7^,8^,9

CoreWeave reported order forms with NVIDIA and with Meta in the same weeks. The NVIDIA order form, dated Sep 9, 2025 and reported in an 8-K filed Sep 15, 2025, obliged NVIDIA to buy the capacity left unsold when CoreWeave's own customers did not use all of it, through Apr 13, 2032 and subject to termination and service conditions. The Meta order form, dated Sep 25, 2025 and reported in an 8-K filed Sep 30, 2025, set an initial commitment of up to approximately $14.2 billion through Dec 14, 2031.10^,11^,12^,13^,14^,15

Separately, an 8-K filed Oct 2, 2025 reported that on Sep 29, 2025 a CoreWeave subsidiary amended an existing credit agreement to add a $3.0 billion tranche of delayed draw term loans, which are loans drawn in stages. The subsidiary said it intended to use the borrowings to fund the purchase and maintenance of equipment, hardware, infrastructure and other systems used to serve strategic customers' orders. CoreWeave's results for 2025 later showed revenue of $5.13 billion, against $1.92 billion in 2024, and a net loss of $1.17 billion, against $863 million.16^,17^,18^,19^,20^,21^,22^,23

The 8-K attaches the master services agreement itself as an exhibit, and says portions of that exhibit were omitted from the filing.24