The Bitcoin (BTC) Mine Core Scientific (Corz) shares fell 15% in the previous market on Thursday after informing that Microsoft (MSFT) has retired from some agreements with the cloud computing firm that Coreweave soon listed.
Last month, Core Scientific said he was planning an expansion of the $ 1.2 billion data center with Coreweave. This week, Coreweave requested an intital public offer, hoping to raise $ 4 billion at an assessment of $ 35 billion.
According to a FT article, Coreweave, which provides the computer power of artificial intelligence (AI) to Microsoft, faced delivery problems and lost deadlines, which makes the technological giant reduce its commitments, although it remains an important partner.
Microsoft represents 62% of Coreweave’s income and has promised more than $ 10 billion in expenses in its services by 2030. Coreweave has grown rapidly, generating $ 1.9 billion in revenues in 2024 but publishing significant losses.
It is largely based on the NVIDIA (NVDA) chips and has raised $ 14.5 billion in debt and capital. Microsoft’s decision is aligned with its changing AI infrastructure strategy, although it remains committed to the main investments in the sector.
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