March 6 (Reuters) - Microsoft ( MSFT ) has moved away

from some of its agreements with cloud computing provider

CoreWeave over delivery issues and missed deadlines, the

Financial Times reported on Thursday citing unnamed sources.

Microsoft ( MSFT ) has a number of ongoing contracts with CoreWeave

that provide it with computing capacity from data centres, a

partnership which is worth billions of dollars, the newspaper

said.

Founded in 2017, CoreWeave provides access to data centers

and high-powered chips for AI workloads, mainly supplied by

Nvidia ( NVDA ).

The Nvidia ( NVDA )-backed company, which competes against cloud

providers such as Microsoft's ( MSFT ) Azure and Amazon's ( AMZN ) AWS,

has laid groundwork for what could be one of the biggest IPOs in

recent times.

CoreWeave is seeking a valuation greater than $35 billion in

its New York flotation and is likely to target raising more than

$3 billion from its share sale, Reuters has reported.

Microsoft's ( MSFT ) decision to walk away from some business with

the cloud technology provider is unrelated to a broader shift in

its own data centre plans, FT said, citing one of the people

close to the matter.

CoreWeave, Microsoft ( MSFT ) and Nvidia ( NVDA ) did not immediately respond

to Reuters' request for a comment.

On Tuesday, CoreWeave acquired AI developer platform Weights

& Biases for an undisclosed amount in a bid to extend its cloud

platform offering.

(Reporting by Angela Christy in Bengaluru; Editing by Mrigank

Dhaniwala)