Exclusive-CoreWeave strikes $12 billion contract with OpenAI ahead of IPO, sources say

By Echo Wang NEW YORK (Reuters) -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 on Monday. The deal will give OpenAI a stake in CoreWeave,…

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Porsche SE expects $21.7 billion loss after tax on Volkswagen stake impairment

FRANKFURT (Reuters) – Porsche SE, Volkswagen’s largest shareholder, expects a 2024 loss after tax of around 20 billion euros ($21.7 billion), it said on Friday, citing previously disclosed impairments on its holding in Europe’s top carmaker. The impairments, first announced in December, reflect a substantial loss in both Volkswagen’s and Porsche AG’s market value. Porsche…

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US weekly jobless claims fall; DOGE action boosts planned layoffs in February

By Lucia Mutikani WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits fell more than expected last week, suggesting that the labor market remained stable in February, though turbulence lies ahead from tariffs on imports and deep government spending cuts. That was flagged by other data on Thursday showing layoffs announced by…

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