Data centre land grab or cash-saving sleight of hand?

CoreWeave has wasted no time splashing the cashless after its IPO. Just three months since floating, the US data centre outfit is shelling out $9 billion worth of shares to acquire Core Scientific in what’s being sold as a bold expansion move.

Cloud giants may regret arming the AI kingpin

Cloud computing has been a licence to print money for Amazon.com, Microsoft and Google but now the gravy train faces a fresh threat from AI cloud specialists and Nvidia.

Shares soar past Microsoft 

Nvidia has soared to a $3.77 trillion market cap, overtaking Microsoft after a 4.3 per cent rise in its share price, capping a dramatic turnaround from earlier setbacks this year.

Industry is built on loaning cash to buy Nvidia chips

The cocaine nose jobs of Wall Street have lobbed more than $11 billion at “neocloud” outfits like CoreWeave, Crusoe and Lambda Labs, betting that a warehouse full of Nvidia chips is as good as gold.

And on that farm he had a GPU 

CoreWeave, which started as a crypto miner, has just bagged a whopping €1.02 billion ($1.1 billion) in fresh dosh from backers like Coatue, Fidelity, and Altimeter Capital as big money wants to invest in AI.