Cisco is reportedly close to investing in $23B-valued CoreWeave, an AI cloud computing provider.

Cisco Systems is reportedly close to investing in CoreWeave, a cloud computing provider specializing in AI, valuing it at $23 billion. The investment aims to support the increasing demand for cloud services driven by AI applications like ChatGPT. CoreWeave, backed by major investors including Nvidia, may pursue an IPO next year. Neither Cisco nor CoreWeave has confirmed the investment details yet.

October 03, 2024
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