Deal Corner Ep 92: CoreWeave Strikes $11.9 bn Deal With OpenAI to Deliver AI Infrastructure
By Shikha Singh
Its Monday…….the day we bring latest update from the mint street……a bunch of curated stories in the Web3 space, giving you the flavor of market activity and the fresh deals struck during this week ….. we have collated deals from varied segments in this show so that you…. our viewers, stay well informed of the latest developments and benefit from the action taking place in this space…
But before we start here are few interesting stats worth mentioning…
Since taking office in January 2025, President Trump has shifted U.S. crypto policy towards a friendlier stance, marked by the creation of a strategic bitcoin reserve, reduced SEC enforcement actions, and the first White House crypto summit.
The bitcoin reserve, which holds seized bitcoin, has been positively received by venture capitalists (VCs), although most were hoping for direct U.S. bitcoin purchases. Market reactions have been muted, as macroeconomic factors remain the dominant influence on crypto prices.
The White House crypto summit offered limited substance, with discussions focusing on stablecoins and their role in strengthening the U.S. dollar. Trump expressed hopes for stablecoin legislation before Congress’s August recess, which many VCs see as a crucial step for regulatory clarity.
They believe that clear regulations on stablecoins and market structure could trigger significant industry momentum and innovation.
While short-term market movements are still driven by macroeconomic factors, long-term confidence in the U.S. crypto market is rising, especially as institutional investments and ETF approvals increase. VCs are optimistic that the U.S. could lead the next phase of crypto innovation, provided clear regulatory guidelines emerge soon.
Now let’s have a look at the first deal of the week …
CoreWeave Strikes $11.9 bn Deal With OpenAI to Deliver AI Infrastructure
CoreWeave announced a major five-year deal with OpenAI worth up to $11.9 billion, where OpenAI will invest $350 million in CoreWeave in exchange for AI infrastructure services.
The partnership positions CoreWeave to expand its cloud-based GPU infrastructure for AI developers ahead of its anticipated initial public offering (IPO).
In 2024, CoreWeave reported $1.9 billion in revenue, though it faced a net loss of $863 million. The deal comes as the cloud AI market is projected to grow to $398 billion by 2030.
Despite recent challenges with Microsoft, which is one of CoreWeave’s largest revenue sources, the company remains competitive against giants like Amazon, Oracle, and Google.
Dexterity Secures $95 mn Funding Round, Valued at $1.65 bn
Dexterity, a robotics startup specializing in AI-powered industrial robots with human-like precision, has raised $95 million in its latest funding round, bringing its post-money valuation to $1.65 billion.
Backed by investors like Lightspeed Venture Partners and Sumitomo Corp., the funding underscores the growing interest in AI-driven robotics.
Dexterity’s robots, designed to handle tasks like loading and sorting in warehouses, are already serving major clients such as FedEx and UPS.
The company has raised nearly $300 million to date, joining a wave of investments in AI robotics, alongside firms like Meta, Apple, and humanoid robot startups.
Crypto Payments Firm Mesh Raises $82 mn as Stablecoin Adoption Soars
Crypto payments firm Mesh has raised $82 million in a Series B funding round to expand its global stablecoin-based payments settlement network.
The round was led by Paradigm, with participation from ConsenSys, QuantumLight, Yolo Investments, and others.
Notably, most of the funding was settled in PayPal’s PYUSD stablecoin. Mesh’s platform connects crypto wallets with payment service providers, enabling users to pay with assets like Bitcoin, Ether, and Solana, while merchants can settle payments in stablecoins like USDC, PYUSD, and RLUSD.
MaxIQ Raises $7.8 mn in Seed Funding
MaxIQ, a company specializing in AI-driven B2B SaaS platforms, has raised $7.8 million in seed funding.
The funding round was led by Dell Technologies and Intel Capital, with participation from other investors.
MaxIQ plans to use the funds to expand its platform and enhance its AI capabilities.
The company focuses on providing businesses with data-driven insights and improving decision-making processes for various industries.
Phot.AI Raises $2.7 mn to Enhance Creative Automation Platform
Phot.AI, an AI-powered creative automation platform, has raised $2.7 million in seed funding.
The platform helps businesses automate creative tasks such as image generation and video content creation using AI tools.
The funds will be used to improve the platform’s capabilities, scale the team, and refine its technology to meet the growing demand for AI-driven content solutions in marketing and advertising.
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