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CoreWeave Shares Fall Despite Strong AI Demand as Losses Mount

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Shares of CoreWeave, the Nvidia-backed AI infrastructure firm, dropped 11% after the company reported a larger-than-expected loss for Q2. Operating expenses surged nearly fourfold to $1.19 billion, highlighting tension between rapid revenue growth and rising financial strain.

Analysts expressed concern over CoreWeave’s heavy reliance on key customers, such as OpenAI, and questioned its ability to grow profitably given widening losses, high capital needs, and deteriorating debt coverage. The company, which went public in March, had about $8 billion in debt last year and planned to use roughly $1 billion of IPO proceeds for debt repayment.

With the IPO lock-up period expiring soon, analysts expect volatility as insiders can sell shares for the first time. CoreWeave operates 33 AI data centers in the U.S. and Europe, providing access to Nvidia GPUs. Despite losses, surging demand helped the firm beat quarterly revenue estimates, and its stock has nearly tripled since its IPO.

AI Startup Perplexity Offers $34.5 Billion for Google Chrome

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Perplexity AI, led by Aravind Srinivas, made an unsolicited all-cash bid of $34.5 billion to acquire Google’s Chrome browser, a price far above its own $14 billion valuation. The offer comes as web browsers regain importance in the AI search race, providing access to billions of users and valuable search data.

Perplexity, which already operates an AI-enabled browser called Comet, plans to maintain Chrome’s open-source Chromium code, invest $3 billion over two years, and preserve the default search engine, pledging no equity component in the deal. The startup has raised around $1 billion from investors including Nvidia and SoftBank and stated multiple funds are willing to finance the offer.

Google has not commented and has no plans to sell Chrome, with regulatory pressure and an ongoing antitrust case possibly leading to a prolonged legal battle. Analysts note the sale could take years to resolve, with appeals potentially reaching the Supreme Court. Perplexity’s move follows previous high-profile offers, such as its bid for TikTok US in January, and highlights the growing competition in AI-driven search and browsers.

Anthropic Offers Claude AI Chatbot to U.S. Government for $1

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Anthropic, the AI startup backed by Amazon.com, announced it will offer its Claude AI model to the U.S. government for just $1. The move makes Claude one of several AI tools available to federal agencies at minimal cost, as startups compete for lucrative government contracts.

This announcement follows the inclusion of Claude, OpenAI’s ChatGPT, and Google’s Gemini on the government’s list of approved AI vendors. CEO Dario Amodei stated, “America’s AI leadership requires that our government institutions have access to the most capable, secure AI tools available.”

OpenAI made a similar offer last week, providing ChatGPT Enterprise to participating federal agencies for $1 per agency for the next year. Anthropic’s initiative highlights the growing competition among AI companies to provide secure and advanced technologies to the U.S. government.