Tue. 03/04 – The First IPO Of The AI Era · Tech Brew Ride Home summary

Key takeaways

CoreWeave is the first AI-related company to file for an IPO, showcasing major revenue growth and reliance on large contracts.
Anthropic's funding round underscores investor bullishness on AI companies even amid market fluctuations.
Apple's latest iPads demonstrate continuous innovation and competitive performance within the tech market.
The partnership between Waymo and Uber signifies a progressive move toward autonomous vehicle integration in urban transport.
Nothing's latest smartphone offerings blend innovative design and practical software solutions for everyday users.
Kinect technology finds unexpected applications in ghost hunting and art, illustrating technology's capacity for reinvention.

Summary

CoreWeave's IPO Marks AI Era

In a landmark moment, CoreWeave has filed for its IPO under the symbol CRWV on NASDAQ, marking the first initial public offering of the AI era. CoreWeave, a cloud-based GPU provider, reported an impressive revenue growth of 737% year-on-year, reaching $1.9 billion in 2024. Despite a net loss of $863 million last year, the company's valuation is anticipated to exceed $35 billion, supported largely by a contract-heavy business model that relies heavily on offerings for major clients like Microsoft.

Anthropic Secures Major Funding Round

AI startup Anthropic raised $3.5 billion in a Series E funding round, led by Lightspeed, bringing its valuation to $61.5 billion. The funding aims to enhance its AI systems and expand further into international markets. With a 30% increase in annual revenue forecasted, Anthropic positions itself as a competition contender against other AI titans, driven by substantial backing from significant tech investors including Amazon and Google.

Apple's New iPad Launch

Apple has unveiled updated models of its iPad Air, featuring the new M3 chip and enhanced performance capabilities. The devices focus on delivering superior processing power while offering a spec bump from previous models. The new iPads come with added functionalities, including support for Apple Intelligence, and are set to launch on March 12, 2025.

Waymo and Uber Collaborate in Austin

Waymo has launched autonomous rides within Austin, Texas, operating through the Uber app. Customers can opt for driverless rides in specified areas starting today. This partnership marks a significant step towards commercializing driverless vehicles in urban settings, while also managing operational logistics to improve user experience.

Nothing's New Mid-Range Phones

Nothing has debuted its latest 3a and 3a Pro smartphones, boasting new AI features and competitive pricing. These devices emphasize camera capabilities and enhanced organizational tools within Android 15. The unique design elements continue to define Nothing's approach to mid-range tech, catering to consumers seeking quality without breaking the bank.

The Kinect's Unlikely Afterlife

The Xbox Kinect, discontinued in 2017, finds new life beyond gaming, utilized in fields ranging from ghost hunting to interactive art. Despite its prior obsolescence, the Kinect's body-tracking technology has established niche applications, showcasing its versatility and the ways in which technology can be repurposed.

Show notes

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:

FreshBooks.com

IQBar: Text TECHMEME to 64000

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)