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(Bloomberg) -- 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 has withdrawn from some of its commitments with cloud computing provider CoreWeave due to delivery issues and missed deadlines, the Financial Times reported on Thursday.
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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.
Nvidia Corp. also has a close relationship with CoreWeave, holding a stake in the startup and also counting it as a major customer for its AI-focused GPUs. Representatives of Microsoft and Nvidia declined to comment for the FT.
The relationship with Microsoft is a closely watched factor as CoreWeave builds toward its IPO. The Windows maker and AI data center operator accounted for 62% of CoreWeave’s revenue in 2024, according to the startup’s disclosures. Changes in demand from Microsoft could adversely affect CoreWeave’s business, the company said in its S-1.
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