CoreWeave Secures $2.3 Billion in Debt Financing

CoreWeave is a cloud-based computing power and infrastructure provider that offers accessible and affordable technology. CoreWeave is unique in that it is one of the few cloud computing providers that utilize graphics processing units (GPUs) instead of central processing units (CPUs) in its data centers. This has made CoreWeave a leader in the field of GPU cloud computing, which is ideal for workloads that require high-bandwidth and low-latency performance, such as AI and machine learning applications.

CoreWeave has secured $2.3 billion in debt financing. The credit facility was led by existing investors Blackstone and Magnetar Capital with participation from Coatue and DigitalBridge Credit.

CoreWeave, United States, was founded in 2017 by Michael Intrator, Brian Venturo, and Brannin McBee. The startup currently serves more than 1,000 customers. “[We’ll commit the loan] entirely toward purchasing and paying for hardware for contracts already executed with clients and continuing to hire the best talent in the industry,” Michael Intrator wrote. “No one was expecting this level of demand for GPU compute, but our strategic investments to increase capacity continue to pay off — and we’re delivering where others cannot.”

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