Microsoft Reduces Commitments to CoreWeave Ahead of IPO, FT Reports
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Microsoft Corp. has withdrawn from some of its commitments with cloud computing provider CoreWeave due to delivery issues and missed deadlines, the Financial Times reported on Thursday.
New Jersey-based CoreWeave, which provides data center technology, filed for an initial public offering this week that could raise about $4 billion and is expected to target a valuation greater than $35 billion, Bloomberg News has reported. Microsoft is by far its largest customer, but it has walked away from some agreements over delivery issues and missed deadlines, the FT said, citing unnamed people familiar with the situation.