BUSINES 
CoreWeave chief executive Michael Intrator and executives at private equity giant Blackstone got together in the summer of 2023 in a WeWork in Brooklyn to hash out the terms of a large and unusual loan. That first deal would lead to one of the largest private financings in US corporate history, Blackstone’s biggest single loan … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. CoreWeave closed flat after a volatile trading debut after the data centre operator downsized its initial public offering over concerns about its business model and waning exuberance in groups linked to artificial intelligence. The company’s … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. CoreWeave, the cloud computing group seeking to launch a blockbuster $32bn initial public offering, violated several key terms of a $7.6bn loan last year, triggering a series of so-called technical defaults. The US company, which … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Taiwan is investigating 11 Chinese technology companies, including the country’s leading chipmaker, on suspicion of illegally poaching its engineers, an indication of Beijing’s reliance on its neighbour’s world-leading semiconductor expertise. Shanghai-based Semiconductor Manufacturing International Corp … Read more
Ten years ago, Baroness Beeban Kidron had a clandestine cup of tea with a tech executive, whom she refers to as a “Deep Throat”. “Everybody in Silicon Valley knows that they’re hurting kids,” the insider explained. “They know that people are coming for them . . . but at the moment, there’s money to be made. In Silicon Valley, … Read more
This article is an on-site version of our Swamp Notes newsletter. Premium subscribers can sign up here to get the newsletter delivered every Monday and Friday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters I’ve always been puzzled by the way Sam Altman, the head of OpenAI, talks about what will … Read more
Mill Stream House in Stadhampton, Oxfordshire, is named after the brook that runs beside the 18th-century property. Mindful of the flood risk, the original builders laid the base of the house 3 feet above the brook. The home’s coach house, built around the same time and converted into a home in the mid-1980s, was on … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Nintendo is set to catapult its long-awaited Switch 2 games console into the teeth of a global trade war, betting a reshaped supply chain can help it overcome the impact of US tariffs and that … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An initial public offering is like a gummy bear rescued from behind a sofa cushion. It may be sweet and delicious, but it also tends to come with a film of miscellaneous detritus. The would-be … Read more
