TECH - Nvidia Backed AI Start-Up CoreWeave Lands New $1.1B Funding - What's On The Cards? | Benzinga
CoreWeave, a cloud-computing firm backed by NVIDIA Corp (NASDAQ:NVDA), has secured $1.1 billion in new funding, led by Coatue, with participation from Magnetar, who led the last primary round, as well as Altimeter Capital, Fidelity Management & Research Company, and Lykos Global Management.
The New Jersey-based company expects to use the new funding to support the growth across all areas of its business, and expansion into new geographic regions.
The substantial funding values CoreWeave at $19 billion, signaling strong demand for AI computation, reported The Wall Street Journal.
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