OpenAI Reprieve for CoreWeave

OpenAI Reprieve for CoreWeave 

The artificial intelligence (AI) leader has secured a five-year, nearly $12bn deal with CoreWeave ahead of its planned $35bn IPO. The contract will supply computing power for OpenAI’s models, reducing its reliance on Microsoft [MSFT], its biggest partner. Microsoft is similarly CoreWeave’s biggest customer, accounting for 62% of its revenues last year, the Financial Times reported, although it recently lost a planned deal with the tech giant over delivery issues. 

Solar is Booming. Will Lawmakers Support It?

The US installed a record 50GW of new solar capacity in 2024, the most added by any energy source in over two decades, according to a report from Solar Energy Industries Association and Wood Mackenzie, as seen by Seeking Alpha. Solar and storage made up 84% of new capacity, with domestic solar module production tripling. Total US solar capacity could hit 739GW by 2035, though policy changes may impact growth.

Fidelity Gets Behind AI Start-up

Celestial AI has raised $250m to advance its light-based data transfer technology, boosting its valuation to over $2.5bn. The round was led by Fidelity, with backing from BlackRock [BLK], Maverick, Tiger Global, and AMD Ventures. The start-up competes with Lightmatter ($4.4bn valuation) and Ayar Labs ($1bn+), according to Bloomberg. Celestial AI has raised over $515m since 2020, as firms race to cut AI power use.

What’s the Prognosis on Quantum?

IonQ [IONQ] raised $372m via its at-the-market equity offering, netting $360m before terminating the program due to market conditions. IONQ stock is down 51.5% this month, with other quantum stocks, among them D-Wave Quantum [QBTS] and Rigetti Computing [RGTI], also in the red. Read OPTO’s deep dive into all three stocks, amid the vicissitudes of this dynamic space.

Can Trump Arrest Tesla’s Decline?

“Radical Left Lunatics, as they often do, are trying to illegally and collusively boycott Tesla,” US President Donald Trump said on his Truth Social Platform, in a show of support for Elon Musk’s electric vehicle firm [TSLA]. Trump added that he would buy a new Tesla “as a show of confidence and support for Elon Musk, a truly great American”. Tesla is down 50% from a record high last December. 

Ukraine Lithium Mine

US-backed mining company TechMet plans to develop a major lithium project in Ukraine, potentially one of the first under a pending US-Ukraine minerals deal. CEO Brian Menell called the Dobra site’s lithium resources “very significant”. Billionaire Ronald Lauder, a Trump ally, is an investment partner in the deal, the Financial Times detailed, and has also been advocating for a US purchase of Greenland.

Is Ray Dalio Prepping for Volatility?

Resilience is the name of the game for Bridgewater Associates, thanks in part to Founder and Chief Investment Officer Ray Dalio’s focus on economic trends and investment diversification. Despite recent volatility, the fund saw modest gains in February, even as fellow hedge funds posted losses. OPTO examines Ray Dalio’s latest 13F filing to see where he’s identified the winners and losers for the coming months.