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Cloud Computing Firm CoreWeave Rakes Another USD 200 Million

By ET Bureau - June 01, 2023 1 Mins Read

Cloud Computing Firm CoreWeave Rakes Another USD 200 Million

Cloud computing vendor CoreWeave has received USD 200 million in funding from its current investor Magnetar Capital, highlighting investor interest in funding infrastructure amid the generative AI boom.

The funding, which valued the organization at over USD 2 billion, came after a week when CoreWeave raised USD 221 million from investors like Magnetar Capital and Nvidia.

CoreWeave has expertise in offering cloud computing services based on graphics processing units (GPUs); the chip developed by Nvidia has become the core of artificial intelligence (AI) technologies like OpenAI’s ChatGPT.

Read More: Cloud computing firm CoreWeave raises another $200 million amid AI boom

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