TECH - Nvidia-Backed AI Firm CoreWeave Secures $7.5B In Debt Financing: Report | Benzinga
CoreWeave, a prominent AI cloud-computing startup backed by Nvidia Corp (NASDAQ:NVDA), has reportedly secured $7.5 billion in debt financing from major investors, including Blackstone Inc (NYSE:BX), Carlyle Group Inc (NASDAQ:CG), and BlackRock Inc (NYSE:BLK).
This marks one of the largest private debt deals ever. Last year, CoreWeave also raised $2.3 billion through a debt deal, according to a report from the Wall Street Journal.
This financing round follows a recent $1.1 billion equity funding, which valued the New Jersey-based company at $19 billion.
CoreWeave is at the forefront of the AI surge, leasing Nvidia AI chips essential for developing systems like OpenAI’s ChatGPT.
Operating in 14 data centers as of last year, the company plans to double its capacity to 28 data centers by the end of this year.
CEO Michael Intrator stated ...