Nvidia-backed AI startup CoreWeave raises $1.1bn in new funding, led by major investors, and values at $19bn.

Nvidia-backed AI startup CoreWeave raised $1.1bn in new funding, led by Coatue, Magnetar, Altimeter Capital, Fidelity Management & Research Company, and Lykos Global Management. This values the company at $19bn, indicating strong demand for AI computation. CoreWeave, a specialist in AI-tailored cloud computing, plans to use the funds for growth in all areas of its business and expand into new geographic regions.

May 01, 2024
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