AI Firm CoreWeave Denies Contract Cancellations with Microsoft

FILE PHOTO: A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. REUTERS/Carlo Allegri/File Photo
FILE PHOTO: A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. REUTERS/Carlo Allegri/File Photo
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AI Firm CoreWeave Denies Contract Cancellations with Microsoft

FILE PHOTO: A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. REUTERS/Carlo Allegri/File Photo
FILE PHOTO: A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. REUTERS/Carlo Allegri/File Photo

IPO-bound AI cloud startup CoreWeave said on Thursday it had not seen any contract cancellations after the Financial Times reported that the company's largest customer Microsoft had moved away from some agreements.

"We pride ourselves in our client partnerships and there have been no contract cancellations or walking away from commitments. Any claim to the contrary is false and misleading," a CoreWeave spokesperson told Reuters in an emailed statement.

The FT had reported, citing sources, that Microsoft withdrew from some of its agreements with CoreWeave over delivery issues and missed deadlines. However, the report also said that Microsoft retained a number of ongoing contracts with CoreWeave and it remained an important partner.

The agreement with Microsoft accounted for 62% of CoreWeave's revenue, or $1.2 billion in total, in 2024, according to a company filing.

The startup had warned that any negative changes in demand from Microsoft or a shift in company' relationship with Microsoft would adversely affect its business.

Founded in 2017, Nvidia-backed CoreWeave provides access to data centers and high-powered chips for AI workloads and competes against cloud providers such as Microsoft's Azure and Amazon's AWS.

CoreWeave has been laying the groundwork for a New York flotation at a valuation of over $35 billion, in what could be one of the biggest IPOs in recent times. It is also likely targeting to raise over $3 billion from its share sale, Reuters has previously reported.



Pope Leo Warns Politicians of the Challenges Posed by AI

This handout photograph taken and released by the Vatican Media on June 21 2025, shows Pope Leo XIV delivers his speech as he meets with participants in the Jubilee of the Rulers, in The Vatican. (Handout / Vatican Media / AFP)
This handout photograph taken and released by the Vatican Media on June 21 2025, shows Pope Leo XIV delivers his speech as he meets with participants in the Jubilee of the Rulers, in The Vatican. (Handout / Vatican Media / AFP)
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Pope Leo Warns Politicians of the Challenges Posed by AI

This handout photograph taken and released by the Vatican Media on June 21 2025, shows Pope Leo XIV delivers his speech as he meets with participants in the Jubilee of the Rulers, in The Vatican. (Handout / Vatican Media / AFP)
This handout photograph taken and released by the Vatican Media on June 21 2025, shows Pope Leo XIV delivers his speech as he meets with participants in the Jubilee of the Rulers, in The Vatican. (Handout / Vatican Media / AFP)

Pope Leo warned politicians on Saturday of the challenges posed by the rise of artificial intelligence (AI), addressing its potential impact on younger people as a prime concern.

Speaking at an event attended by Italian Prime Minister Giorgia Meloni and parliamentary delegations from 68 countries, Leo revisited a topic that he has raised on a number of occasions during the first few weeks of his papacy.

"In particular, it must not be forgotten that artificial intelligence functions as a tool for the good of human beings, not to diminish them or even to replace them," Leo said at an event held as part of the Roman Catholic Jubilee or Holy Year.

AI proponents say it will speed up scientific and technological progress and help people to carry out routine tasks, granting them more time to pursue higher-value and creative work.

The US-born pontiff said attention was needed to protect "healthy, fair and sound lifestyles, especially for the good of younger generations."

He noted that AI's "static memory" was in no way comparable to the "creative, dynamic" power of human memory.

"Our personal life has greater value than any algorithm, and social relationships require spaces for development that far transcend the limited patterns that any soulless machine can pre-package," he said.

Leo, who became pope in May, has spoken previously of the threat posed by AI to jobs and has called on journalists to use it responsibly.