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.



Australia Regulator Says YouTube, Others ‘Turning a Blind Eye’ to Child Abuse Material 

07 December 2017, Berlin: The logo of the video portal YouTube is seen at the YouTube Space in Berlin. (dpa)
07 December 2017, Berlin: The logo of the video portal YouTube is seen at the YouTube Space in Berlin. (dpa)
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Australia Regulator Says YouTube, Others ‘Turning a Blind Eye’ to Child Abuse Material 

07 December 2017, Berlin: The logo of the video portal YouTube is seen at the YouTube Space in Berlin. (dpa)
07 December 2017, Berlin: The logo of the video portal YouTube is seen at the YouTube Space in Berlin. (dpa)

Australia’s internet watchdog has said the world’s biggest social media firms are still “turning a blind eye” to online child sex abuse material on their platforms, and said YouTube in particular had been unresponsive to its enquiries.

In a report released on Wednesday, the eSafety Commissioner said YouTube, along with Apple, failed to track the number of user reports it received of child sex abuse appearing on their platforms and also could not say how long it took them to respond to such reports.

The Australian government decided last week to include YouTube in its world-first social media ban for teenagers, following eSafety's advice to overturn its planned exemption for the Alphabet-owned Google's video-sharing site.

“When left to their own devices, these companies aren’t prioritizing the protection of children and are seemingly turning a blind eye to crimes occurring on their services,” eSafety Commissioner Julie Inman Grant said in a statement.

“No other consumer-facing industry would be given the license to operate by enabling such heinous crimes against children on their premises, or services.”

A Google spokesperson said “eSafety’s comments are rooted in reporting metrics, not online safety performance”, adding that YouTube's systems proactively removed over 99% of all abuse content before being flagged or viewed.

“Our focus remains on outcomes and detecting and removing (child sexual exploitation and abuse) on YouTube,” the spokesperson said in a statement.

Meta - owner of Facebook, Instagram and Threads, three of the biggest platforms with more than 3 billion users worldwide - has said it prohibits graphic videos.

The eSafety Commissioner, an office set up to protect internet users, has mandated Apple, Discord, Google, Meta, Microsoft, Skype, Snap and WhatsApp to report on the measures they take to address child exploitation and abuse material in Australia.

The report on their responses so far found a “range of safety deficiencies on their services which increases the risk that child sexual exploitation and abuse material and activity appear on the services”.

Safety gaps included failures to detect and prevent livestreaming of the material or block links to known child abuse material, as well as inadequate reporting mechanisms.

It said platforms were also not using “hash-matching” technology on all parts of their services to identify images of child sexual abuse by checking them against a database. Google has said before that its anti-abuse measures include hash-matching technology and artificial intelligence.

The Australian regulator said some providers had not made improvements to address these safety gaps on their services despite it putting them on notice in previous years.

“In the case of Apple services and Google’s YouTube, they didn’t even answer our questions about how many user reports they received about child sexual abuse on their services or details of how many trust and safety personnel Apple and Google have on-staff,” Inman Grant said.