The new funding will be used to support CoreWeave’s rapid growth across all areas of the business. This includes expanding into new geographic regions to meet the increasing demand for GPU-accelerated cloud infrastructure worldwide.
“CoreWeave continues to evolve as a provider of critical infrastructure for AI development,” said Mike Intrator, co-founder and CEO of CoreWeave. “The high quality of investors who continue to place their trust in us confirms the enormous opportunity we have to define the next generation of cloud computing.”
The increasing demand for AI solutions is leading to an explosive demand for powerful and scalable cloud infrastructure. The infrastructure of traditional cloud providers is not designed to deliver the massive computing power and memory that AI workloads require.
CoreWeave has designed its cloud infrastructure specifically for AI companies. The platform provides automated solutions that simplify the complexity of AI workloads and optimize performance and efficiency.
“CoreWeave has emerged as a key leader in building the infrastructure needed to power the generative AI revolution,” said Philippe Laffont, founder and portfolio manager of Coatue. “We are impressed by the team’s commitment to operational and technical excellence and look forward to continuing our partnership.”
The new financing follows a $642 million secondary investment in December 2023 and a $420 million primary investment led by Magnetar in April 2023. CoreWeave has also secured a $2.3 billion debt financing facility and has tripled its data center footprint in the past year to fourteen locations. The workforce has quadrupled in the same period.
Tags: Dutch Channel CoreWeave raises billion expand cloud infrastructure globally
