CoreWeave specializes in scalable and cost-effective computing resources for specific industries and applications. It offers access to Nvidia Corp.’s high-performance data center GPU technology, enabling efficient computing capabilities for tasks such as 3D rendering, machine learning, and AI model training. The company has raised significant funds this year, with investors including Magnetar Capital LLC, Nvidia, Coatue Management LLC, DigitalBridge Group Inc., BlackRock Inc., PIMCO LLC, Carlyle Group Inc., and Great Elm LLC.
Key takeaways:
- Cloud computing provider CoreWeave Inc. has sold a minority stake to investors led by Fidelity Management & Research LLC, valuing the company at $7 billion.
- Other investors in the deal include Investment Management Corp. of Ontario, Jane Street Capital LLC, JPMorgan Asset Management, Nat Friedman, Daniel Gross, Goanna Capital LP and Zoom Ventures Partners LLC.
- CoreWeave specializes in scalable and cost-effective computing resources, providing high-performance computing solutions via Nvidia Corp.’s data center GPU technology.
- The company's growth has been driven by the rise of AI and machine learning, with CoreWeave's products enabling more efficient and powerful computing capabilities for tasks such as 3D rendering, machine learning and AI model training.