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In this photo illustration, a Core Weave logo is displayed on a smartphone with stock market percentages on the background.Omar Marques | SOPA Images | Lightrocket | Getty ImagesCoreWeave, an Nvidia-backed artificial intelligence startup that rents out chips to other companies, announced Friday that it has a new $650 million credit line to expand its business and data center portfolio.The cloud infrastructure company said it's raised $12.7 billion from equity and debt investors in the past 18 months, including a $1.1 billion round in May at a $19 billion valuation.By the end of 2024, CoreWeave plans to have 28 data centers across the U.S. and abroad — including locations in Austin, Texas, Chicago, Las Vegas and London — and it plans to build another 10 data centers in 2025. In the past, Co...

Mobile homes surrounded by flood water after Hurricane Milton made landfall, in St. Petersburg, Florida, U.S. October 10, 2024.Octavio Jones | ReutersIf your home is temporarily uninhabitable after a natural disaster, a provision in your homeowners or renters insurance policy may help you with new lodging and other living expenses.Insured wind and flood damage from Hurricane Helene is estimated to be up to $17.5 billion, according to CoreLogic, a real estate data site. Insured losses from Hurricane Milton could range from $30 billion to $60 billion, per Morningstar DBRS.Homeowners and renters affected by a natural disaster can ask about so-called "loss of use" or "additional living expenses" coverage from their insurance providers, experts say.The provision is meant to help cover reasonabl...

A measure of wholesale prices showed no change in September, pointing to a continued easing in inflation, the Labor Department reported Friday.The producer price index, which measures what producers get for their goods and services, was flat for the month and up 1.8% from a year ago. Economists surveyed by Dow Jones had been looking for a monthly gain of 0.1% after August's increase of 0.2%.Excluding food and energy, the PPI rose 0.2%, meeting expectations, and was up 2.8% from a year ago.The report comes a day after the Labor Department reported that the consumer price index, a more widely followed inflation measure that shows what consumers actually pay for goods and services, had an increase of 0.2% for the month and 2.4% from a year ago.Markets showed little immediate reaction to the d...

Andrew Feldman, co-founder and CEO of Cerebras Systems, speaks at the Collision conference in Toronto on June 20, 2024.Ramsey Cardy | Sportsfile | Collision | Getty ImagesAI chipmaker Cerebras is trying to be the first major venture-backed tech company to go public in the U.S. since April and to capitalize on investors' insatiable demand for Nvidia, now valued at $3.3 trillion.While its position in artificial intelligence infrastructure represents a major tail wind, Cerebras has challenges — most notably a hefty reliance on a single Middle Eastern customer — that may prove too weighty to overcome in the company's attempt to ride the Nvidia wave. Valued at $4 billion in 2021, Cerebras is reportedly seeking to roughly double that in its IPO."There's too much hair on this deal," David Golden,...

Investors who fear stubborn inflation, if not an outright rebound, got a bit of a salve on Friday morning. Wholesale prices showed no change month over month for September, coming in below expectations. The producer price index report may help offset some of the slight concerns about Thursday's consumer price index report, which was a bit hotter than expected. The details within the reports are another reason to stay calm, David Seif, chief economist for developed markets at Nomura Securities, said on " Squawk Box ." "The key thing for the Fed is their preferred measure of inflation, core PCE. And when you actually look at the components of yesterday's print and just looking over today's PPI print that go into that core PCE, it actually looks pretty good," Seif said. The personal consumpti...