Tue. 03/04 – The First IPO Of The AI Era
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4.7 • 984 Ratings
🗓️ 4 March 2025
⏱️ 19 minutes
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Summary
We have our first official IPO of the AI Era coming. Anthropic has a big new round. New iPads from Apple. New phones from Nothing. Waymo rolls out in Austin, Texas. And how the Kinnect technology lives on, as a tool for Ghostbusters.
Sponsors:
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Links:
- AI cloud provider CoreWeave files for IPO (CNBC)
- Anthropic Finalizes Megaround at $61.5 Billion Valuation (Bloomberg)
- Apple launches a new M3-powered iPad Air (The Verge)
- Waymo is now available exclusively on Uber in Austin (The Verge)
- Nothing’s Phone 3A and 3A Pro use AI to organize all your stuff (The Verge)
- Ghost hunting, pornography and interactive art: the weird afterlife of Xbox Kinect (The Guardian)
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Transcript
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| 0:00.0 | Welcome to the Tech meme right home for Tuesday, March 4th, |
| 0:06.7 | 2025. I'm Brian McCullough today. We have our first official IPO of the AI era coming. |
| 0:11.8 | Anthropic has a big new round, new iPads from Apple, new phones from nothing. |
| 0:16.3 | Waymo rolls out in Austin, Texas, and how the Connect technology lives on as a tool for Ghostbusters. |
| 0:22.3 | Here's what you miss today in the world of tech. |
| 0:33.1 | We officially have it. |
| 0:34.7 | The first IPO of the AI era, Corweave, which provides cloud-based GPUs, |
| 0:39.6 | has filed for an IPO on the NASDAQ under the symbol CRWV and says it generated $1.9 billion |
| 0:45.7 | in revenue in 2024, up 737% year-on-year. So to be clear, this isn't an AI company in the way that Open AI is. |
| 0:55.5 | They basically help AI companies get the chips they need to make the AI. |
| 0:59.9 | Quoting Investors Business Daily. |
| 1:01.9 | New Jersey-based Corweave rents cloud computing power with Nvidia chips to AI developers. |
| 1:06.3 | The company has seen a big jump in sales as companies race to train AI models. |
| 1:12.2 | Corweave's revenue grew more than 700% year over year to $1.9 billion in 2024, according to its IPO prospectus filing. The company |
| 1:18.7 | posted a net loss of $863 million for 2024. The company has not yet listed the number of shares |
| 1:25.6 | or price it will target in the listing. Bloomberg reported |
| 1:28.2 | last week that Corweave's IPO filing was imminent, with the company likely to seek |
| 1:31.7 | a valuation of more than $35 billion. Corweave raised private funding in November at a reported |
| 1:36.5 | valuation of $23 billion, end quote. Worth pointing out that 77% of their revenue is coming |
| 1:42.6 | from just two customers, with 62% coming from |
| 1:45.4 | just one of them, Microsoft. But they apparently have a pipeline of over $15 billion in |
| 1:50.8 | coming contracts. Quoting CNBC, originally known as Atlantic Crypto. The company got it start in |
... |
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