CoreWeave, an artificial intelligence startup backed by Nvidia, has signed a five-year contract worth $11.9 billion with OpenAI to provide cloud computing services ahead of its hotly- anticipated stock market launch, people familiar with the matter told Reuters.
The deal will give OpenAI a stake in CoreWeave, which will issue shares worth $350 million through a private placement at the time of its initial public offering, the sources said, requesting anonymity as the discussions are confidential. CoreWeave will not receive any IPO proceeds as part of the private placement, the sources said. The company is expected to list its shares in New York in the coming weeks, the sources added, cautioning that the timing and size of CoreWeave's stock market launch is subject to market conditions and the terms of the deal with OpenAI could change.
Apple and Meta Platforms are set to face modest fines for allegedly breaching landmark rules aimed at reining in their power, people with direct knowledge of the matter said. The sources said a final decision on the size of the fines has not yet been taken and the situation could still change. A decision is expected this month, in line with what EU antitrust chief Teresa Ribera told Reuters in February. Separately, Britain's antitrust regulator will focus on interventions in digital markets which have a "clear and direct" impact on UK consumers and businesses, and will give a road map to the Big Tech companies targeted, its CEO Sarah Cardell said.
Eli Lilly plans to launch its blockbuster diabetes and weight-loss drug in major emerging markets like India, Brazil and Mexico in the second half of 2025 as production capacity increases, its finance chief said. The new launches present a big market opportunity as they are some of the most populous countries with soaring obesity rates. "The size is significant. We're talking about 900 million patients that could benefit from Mounjaro," CFO Lucas Montarce told investors and analysts at the Leerink Partners Global Healthcare Conference. "We continue to plan new launches as we continue to ramp up supply production," Montarce said. Separately, Novo Nordisk revealed weaker-than-expected data from a second late-stage trial of its obesity drug candidate CagriSema, knocking shares and stoking worries that rival Eli Lilly may be gaining an edge over the company in the weight-loss drugs market.
Ford will inject up to $4.8 billion into its struggling German operations as it tries to revive its European business, the U.S. carmaker said. Its Ford-Werke German arm, which is burdened with 5.8 billion euros of debt, will continue a strategic transformation, focusing on reducing costs and increasing competitiveness, Ford said in a statement. "By recapitalising our German operations, we are supporting the transformation of our business in Europe and strengthening our ability to compete with a fresh product portfolio," said John Lawler, vice chair of Ford Motor Company. The new funding commitment includes a capital injection to address overborrowing at Ford- Werke and provide funding for a multi- year business plan. It also replaces an agreement that Ford would cover any losses of the German subsidiary, a deal that had been in place since 2006, drawing protests from the powerful IG Metall labour union.
Chevron would like to see durability in U.S. energy policy rather than swings from one extreme to another, CEO Mike Wirth said. U.S. President Donald Trump's first weeks in office during his second term have been marked by a rapid overhaul of government and the reversal of many of the energy policies of the previous administration. Many of those policy changes have come through executive orders from the president rather than through legislation. "We have allocated capital that's out there for decades, and so we really need consistent and durable policy." Permits for energy projects are one example that the sector needs consistent policy on, Wirth said. Separately, NextEra Energy expects a 55% jump in power demand over the next 20 years versus the prior two decades, Chief Executive Officer John Ketchum told attendees at the CERAWeek energy conference in Houston.
