FT News Briefing
CoreWeave tests investor appetite for AI
Mar 31, 2025
Investors express concerns about rising bond yields in Germany impacting defense spending across the EU. Meanwhile, CoreWeave's IPO, the largest in 18 months, experiences a lukewarm market response due to worries over its ties to NVIDIA and debt levels. The podcast also sheds light on a cash crisis in Gaza, where a black market has emerged amidst high transaction fees. Lastly, it touches on a successful rocket launch attempt from a European startup, illustrating the challenges and achievements in the region's space endeavors.
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Quick takeaways
- Germany's increased defense spending and rising bond yields are limiting fiscal flexibility for other EU nations already burdened by debt.
- CoreWeave's disappointing IPO highlights investor concerns over its reliance on NVIDIA and significant debt, impacting the overall tech IPO sentiment.
Deep dives
Germany's Increased Defense Spending
Germany's push for increased defense spending is leading to rising borrowing costs across Europe, particularly affecting countries like France and Italy, which already face higher debt levels. As Germany's bond market serves as a benchmark for Europe, the increase in Bund yields means that other governments may struggle to finance additional military expenditures. This situation can restrict fiscal flexibility for nations that are already constrained, making it challenging to manage both increased spending and existing debt obligations. The implications of Germany’s financial decisions resonate beyond its borders, influencing fiscal policies across the continent.
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