In the past few years, Computational Fluid Dynamics (CFD) has become an essential tool in the design and optimization of racing sailboats and in particular America's Cup yachts. The prevalent role of CFD in the design process is demonstrated by the number of numerical simulations on different boat features, ranging from hull and appendage design to sail optimization, that each America's Cup syndicate carries on during the boat design and its further development. In this work, we report some of the numerical results obtained in the framework of the research partnership between the Ecole Polytechnique Fédérale de Lausanne (EPFL) and the Alinghi Team, in preparation to the 32nd edition of the America's Cup. A particular attention is devoted to the innovative aspects of the numerical models that have been recently developed.