{"id":16499,"date":"2025-03-06T14:32:13","date_gmt":"2025-03-06T14:32:13","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=16499"},"modified":"2025-03-06T14:32:13","modified_gmt":"2025-03-06T14:32:13","slug":"core-scientific-shares-drop-15-as-microsoft-cuts-coreweave-commitments","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=16499","title":{"rendered":"Core Scientific Shares Drop 15% as Microsoft Cuts CoreWeave Commitments"},"content":{"rendered":"<div>\n<p>Shares of bitcoin (BTC) miner Core Scientific (CORZ) were down 15% in pre-market on Thursday after reports that Microsoft (MSFT) has pulled back from some agreements with soon to listed cloud computing firm <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/03\/03\/ai-firm-coreweave-files-for-ipo-citing-usd1-9b-in-revenue\" target=\"_blank\">CoreWeave<\/a>.<\/p>\n<p>Last month, <a href=\"https:\/\/www.coindesk.com\/business\/2025\/02\/26\/core-scientific-stock-surges-after-usd1-2b-expansion-of-data-center-with-coreweave\" target=\"_blank\">Core Scientific said it was planning<\/a> a $1.2 billion data center expansion with CoreWeave. This week, CoreWeave filed for an intital public offering, hoping to raise $4 billion at a $35 billion valuation.<\/p>\n<p>According to an <a href=\"https:\/\/www.ft.com\/content\/f3d9d339-42ef-4979-bf52-89ecd699dea2\" target=\"_blank\">FT article<\/a>, CoreWeave, which supplies artificial intelligence (AI) computing power to Microsoft, was facing delivery issues and missed deadlines, causing the tech giant to reduce its commitments, though it remains a major partner. <\/p>\n<p>Microsoft represents 62% of CoreWeave\u2019s revenue and has pledged over $10 billion in spending on its services by 2030. CoreWeave has rapidly grown, generating $1.9 billion in revenue in 2024 but posting significant losses. <\/p>\n<p>It relies heavily on Nvidia\u2019s (NVDA) AI chips and has raised $14.5 billion in debt and equity. Microsoft\u2019s decision aligns with its shifting AI infrastructure strategy, though it remains committed to major investments in the sector. <\/p>\n<p>Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to <a href=\"https:\/\/www.coindesk.com\/ethics\" target=\"_blank\">our standards<\/a>. For more information, see <a href=\"https:\/\/www.coindesk.com\/coindesk-news\/2023\/04\/14\/how-coindesk-will-use-generative-ai-tools\" target=\"_blank\">CoinDesk\u2019s full AI Policy<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shares of bitcoin (BTC) miner Core Scientific (CORZ) were down 15% in pre-market on Thursday after reports that Microsoft (MSFT) has pulled back from some agreements with soon to listed cloud computing firm CoreWeave. Last month, Core Scientific said it was planning a $1.2 billion data center expansion with CoreWeave. This week, CoreWeave filed for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-16499","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16499"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16499\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}