Shares of Bitcoin (BTC) Miner Core Scientific (Corz) dropped at 15% down on the market on Thursday after reports that Microsoft (MSFT) has been withdrawn from some agreements by soon to listed cloud computing company Coreweave.

Last month, Core Scientific said it planned a data center expansion of $ 1.2 billion with Coreweave. This week, Coreweave filed for an Intital public offer in the hope of raising $ 4 billion for a $ 35 billion valuation.

According to an FT article, Coreweave, which provides artificial intelligence (AI) computing power to Microsoft, was to delivery questions and unanswered deadlines, causing the tech giant to reduce its obligations, though it remains a major partner.

Microsoft represents 62% of Coreweaves revenue and has pledged over $ 10 billion in expenses for its services by 2030. Coreweave has grown rapidly, generating $ 1.9 billion in revenue in 2024 but has sent significant losses.

It is highly dependent on Nvidia’s (NVDA) AI chips and has raised $ 14.5 billion in debt and equity. Microsoft’s decision is in line with its changing AI infrastructure strategy, although it remains obliged to major investment in the sector.

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