Breaking news

Nvidia-Backed CoreWeave Eyes $35 Billion IPO Amid AI Boom

CoreWeave, a cloud computing company specializing in AI infrastructure, is preparing for a major IPO on Nasdaq under the ticker “CRWV.” The Nvidia-backed firm aims to raise up to $2.7 billion, setting a valuation exceeding $35 billion, making it one of the biggest tech listings in recent years.

Key Facts

  • 49 million shares priced between $47 and $55 each.
  • Revenue skyrocketed from $229M in 2023 to $1.9B in 2024, though net losses also climbed to $863M.
  • IPO led by Morgan Stanley, JP Morgan, and Goldman Sachs.
  • $11.9B deal with OpenAI, including a $350M private investment from OpenAI.
  • AI infrastructure powered by 300,000 Nvidia GPUs, supporting Meta, IBM, and Microsoft.

The Nvidia Partnership

Nvidia’s strategic backing has been crucial in CoreWeave’s rise. The firm secured $2.3B in debt financing using Nvidia GPUs as collateral and is integrating Nvidia’s latest GB200 NVL72 cloud instances, offering cutting-edge AI processing capabilities.

Market Impact

CoreWeave’s IPO could revive the tech IPO market and signal a strong investor appetite for AI-driven companies. However, economic uncertainty and shifts in AI infrastructure strategies—especially from major clients like Microsoft—add complexity to the landscape.As the AI boom continues, CoreWeave is positioning itself as a key player in next-gen cloud computing, directly competing with Amazon and Google.

IATA Criticizes Changes To EU Passenger Rights Framework

Critical Evaluation Of Revised Passenger Rights Framework

The International Air Transport Association (IATA) has criticized the latest revisions to Europe’s passenger rights rules, arguing that the changes do not address the underlying issues within the long-standing EU261 framework. According to the industry body, the amendments introduce only limited adjustments while leaving broader operational challenges unresolved.

Incremental Adjustments, Operational Challenges

Among the changes adopted are a non-exhaustive list of extraordinary circumstances and new requirements for airports to develop contingency plans for accommodating passengers during large-scale disruptions. IATA argues that the revised framework continues to impose significant costs on the aviation sector, estimating the annual burden at around €8 billion. The organization maintains that these costs ultimately affect both airline operations and the passenger experience.

Systemic Issues And Industry Concerns

Data from Eurocontrol indicates that a substantial proportion of delays stems from shortcomings in Europe’s air traffic management system rather than factors directly controlled by airlines.

IATA had supported proposals by the European Commission to extend delay thresholds before compensation obligations apply. According to the association, such changes would have given carriers more flexibility to arrange alternative travel options during disruptions.

However, the proposal was scaled back during negotiations with the European Parliament, while additional measures were introduced with limited consultation with industry stakeholders.

Industry Leaders Call For Meaningful Reform

IATA Director General Willie Walsh said the latest agreement represented a missed opportunity to address shortcomings in the EU261 framework. “After 13 years of discussion, the opportunity to improve Europe’s competitiveness and the passenger experience by addressing the flaws of EU261 was lost,” Walsh said. He added that the approved changes are unlikely to reduce delays and could instead increase operational complexity and costs for airlines, with passengers ultimately bearing the impact.

Looking Ahead: Enforcement And Strategic Overhaul

Attention is now turning to the next phase of negotiations, including an enforcement package that will be discussed by the Council and the European Parliament. According to Walsh, the priority should be the practical and consistent implementation of regulations while avoiding additional burdens on the aviation sector.

IATA also called on European policymakers to address structural issues in air traffic management as part of the bloc’s upcoming Aviation Strategy, arguing that improvements in this area are essential for enhancing performance and competitiveness across the industry.

The Future Forbes Realty Global Properties
eCredo
Aretilaw firm
Uol

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter