AI focused cloud company CoreWeave, situated in Roseland, NJ, has secured $1.1 billion in fresh capital.
Investors
- Coatue (led the round)
- Altimeter Capital
- Fidelity Management & Research Company, Lykos Global Management
- Magnetarthe
With the money, the company hopes to develop all facets of its operations and reach new markets.
CoreWeave is a specialist GPU cloud service founded in 2017 and run by CEO Mike Intrator. Its mission is to power the most challenging workloads at scale with tailored solutions.
A wide range of capabilities for machine learning and artificial intelligence, graphics and rendering, life sciences, real-time streaming, and other areas are provided by the company’s technological portfolio. CoreWeave manages an expanding network of data centers throughout the whole United States.
The business declared in December that it had closed a $642 million secondary investment, which came after a $420 million primary led by Magnetar in April 2023. Lead by Magnetar and Blackstone, CoreWeave was able to achieve a $2.3 billion loan financing deal in August. The firm hired four times as many people and expanded its data center footprint from three to fourteen throughout the past year.
Concerning CoreWeave
As a specialist cloud provider, CoreWeave offers enormous GPU computing capacity built upon the quickest and most adaptable architecture available. CoreWeave is an NVIDIA Elite Cloud Solutions Provider for Compute and Visualization. It creates cloud solutions that are up to 35 times faster and 80% less expensive than the big, generalized public clouds for compute-intensive use cases like VFX and Rendering, Machine Learning and AI, Batch Processing, and Pixel Streaming.
