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CoreWeave Secures $11.9B OpenAI Deal, Eyes $35B IPO Valuation

To strengthen its position before going public, Nvidiabacked AI firm CoreWeave has inked a fiveyear, $11.9 billion deal with OpenAI to supply AI infra

To strengthen its position before going public, Nvidiabacked AI firm CoreWeave has inked a fiveyear, $11.9 billion deal with OpenAI to supply AI infrastructure. During its initial public offering, OpenAI will receive $350 million in CoreWeave shares through a private placement as part of the agreement. CoreWeave was established in 2017 and is a competitor to AWS and Microsoft Azure, specialising in highperformance AI computing. Despite a rise in revenue to $1.92 billion, its net losses increased to $863.4 million in 2024. Blackstone is one of the primary investors in the company, which has raised around $14.5 billion in capital. CoreWeaves IPO, which is led by Morgan Stanley, JPMorgan Chase, and Goldman Sachs, is expected to list on the Nasdaq with the symbol CRWV and aim for a valuation of at least $35 billion. Read More..

B2B Tech News | 3 days ago        

Absa Group Reports 10% Profit Growth as Credit Impairments Decline

Because fewer retail credit impairments occurred in its native market, South African lender Absa Group recorded a 10% increase in yearly earnings. Gha

Because fewer retail credit impairments occurred in its native market, South African lender Absa Group recorded a 10% increase in yearly earnings. Ghana, Kenya, Zambia, the United Kingdom, and the United States are among the 16 countries where the bank operates. In 2023, it reported headline earnings per share of 26.62 rand. Net interest income climbed 4% to 71 billion rand, driven by a 7% increase in loans and a 12% increase in deposits, while revenue rose 5% to 109.9 billion rand $6 billion. Charges for credit impairment decreased 8% to 14.3 billion rand, while noninterest income increased 6%. Absa also announced a final dividend of 775 cents per share, helped by rate reductions and collection measures. Read More..

B2B Tech News | 3 days ago        

India, EU to Hold 10th Round of FTA Talks in Brussels from March 1014

The tenth round of Free Trade Agreement FTA negotiations between India and the EU will take place in Brussels from 10 March to 14 to resolve significa

The tenth round of Free Trade Agreement FTA negotiations between India and the EU will take place in Brussels from 10 March to 14 to resolve significant concerns and conclude the agreement before the end of the year. While tackling regulatory obstacles, discussions will centre on lowering tariffs on EU goods such as wine and cars. The possible threats of U.S. tariffs under Donald Trump have made the situation more urgent. The EUs Carbon Border Adjustment Mechanism, which may increase exporters costs, is one of Indias worries. In light of changing global dynamics, the EU, Indias biggest trading partner, views the FTA as essential for bolstering economic ties and broadening trade alliances. Both parties are still dedicated to overcoming obstacles and expanding their commerce with one another. Read More..

B2B Tech News | 3 days ago        

AFC Seeks Middle East and Asian Funding to Boost African Investments

Amidst shifting geopolitical and financial environments, the African Finance Corporation AFC is stepping up efforts to mobilise local funds for invest

Amidst shifting geopolitical and financial environments, the African Finance Corporation AFC is stepping up efforts to mobilise local funds for investment throughout the continent while pursuing finance from the Middle East and Asia. Samaila Zubairu, the CEO of AFC, highlighted the importance of opening up institutional investments and African pension funds, projecting that $15–$20 billion may eventually be raised. Given the decline in Western aid, AFC intends to carefully increase its investments, prioritising initiatives that draw in coinvestors. Similar initiatives are scheduled to debut in Botswana, Angola, and Kenya. Initiatives such as InfraCredit in Nigeria have already attracted significant pension fund investments into infrastructure. Meanwhile, AFCbacked industrial initiatives like ARISE Integrated Industrial Platforms are attracting interest from investors in the Gulf and Europe. Read More..

B2B Tech News | 3 days ago        

Bitcoin Falls 5.47% to $81,555 as Crypto Market Sees Sharp Decline

At 2216 GMT on Sunday, Bitcoin, the biggest cryptocurrency in the world by market value, dropped by almost 5.47% to $81,555, indicating a steep drop i

At 2216 GMT on Sunday, Bitcoin, the biggest cryptocurrency in the world by market value, dropped by almost 5.47% to $81,555, indicating a steep drop in the cryptocurrency market. The secondbiggest cryptocurrency, ether, also sharply declined, falling 5.4% to $2,024.68 at 2222 GMT. The decline in leading digital assets points to heightened market volatility, which changes in regulations, investor mood, or general economic trends might bring. The price of cryptocurrencies has fluctuated frequently due to market speculation, macroeconomic variables, and institutional interest. The digital asset market is still dominated by Bitcoin and Ether, whose fluctuations often set the tone for the larger crypto market. Investors are carefully monitoring market conditions and pricing movements in anticipation of new developments. Read More..

B2B Tech News | 3 days ago        

AirAsia Parent Capital A Raises 1 Billion Ringgit to Strengthen Finances

According to CEO Tony Fernandes, Malaysias Capital A, the parent company of AirAsia, has successfully finished a 1 billion ringgit $226 million privat

According to CEO Tony Fernandes, Malaysias Capital A, the parent company of AirAsia, has successfully finished a 1 billion ringgit $226 million private placement. The company must move closer to leaving PN17 financially distressed status to keep its stock exchange listing. The Malaysian stock exchange approved Capital A, and the company anticipates finishing the process by May. To unify operations under a single AirAsia brand, the restructuring involves selling its aviation division to AirAsia X. Two consecutive quarters of profitability are still necessary, as are approvals from shareholders and the court. Capital A intends to concentrate on its nonaviation operations, such as logistics and aircraft maintenance, while keeping an 18% interest in the new AirAsia airline group. Read More..

B2B Tech News | 3 days ago        

IndusInd Bank Shares Plunge 6% as RBI Cuts CEO’s Term to One Year

Concerns over leadership succession and business stability were raised when the RBI only granted CEO Sumant Kathpalia a oneyear extension rather than

Concerns over leadership succession and business stability were raised when the RBI only granted CEO Sumant Kathpalia a oneyear extension rather than the boardapproved threeyear term, causing IndusInd Banks shares to drop nearly 6% to a 19month low. The Nifty 50 indexs largest loser was the stock. According to analysts, the RBIs decision might have been prompted by discontent with the banks performance in earlier circumstances, such as problems with its microfinance portfolio and an increase in nonperforming assets. Even while the consensus 12month objective is still at ₹1,210, indicating a possible 32.8% increase from current levels, at least six brokerages have cut their price forecasts. Read More..

B2B Tech News | 3 days ago        

EU and India Target YearEnd Free Trade Agreement, Strengthen Ties

European Commission President Ursula von der Leyen and her team recently travelled to India to improve bilateral ties. They declared their plans to co

European Commission President Ursula von der Leyen and her team recently travelled to India to improve bilateral ties. They declared their plans to complete a free trade agreement FTA and form a defence alliance by the years end. The European Unions strategic decision to broaden its relationships in the face of international difficulties is reflected in this project. Given Indias increasing importance on the global scene, the EU wants to strengthen trade, technological, and security cooperation with the country. This move demonstrates the EUs proactive strategy for establishing new alliances in a shifting geopolitical environment. Read More..

B2B Tech News | 8 days ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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