GPU cloud infrastructure provider CoreWeave completes $1.1 billion Series C financing, led by Coatue

2024-05-02 08:34:47BlockBeatsShare to:

According to BlockBeats, on May 2, CoreWeave, a cloud service provider focusing on artificial intelligence, announced the completion of a $1.1 billion Series C financing round, led by Coatue, with participation from Magnetar (the main investor in the previous round), Altimeter Capital, Fidelity Management & Research Company and Lykos Global Management. The new financing will be used to support the rapid growth of CoreWeave's various business areas and expansion into new regions to meet the continued explosive global demand for GPU-accelerated cloud infrastructure. Mike Intrator, co-founder and CEO of CoreWeave, said that CoreWeave's position as a key infrastructure provider for artificial intelligence development continues to consolidate, and the continued trust of high-level investors has verified its huge opportunities in defining the next generation of cloud computing. As companies increasingly recognize the potential of artificial intelligence in improving efficiency, productivity, expanding revenue, reducing costs, and bringing growth and innovation at the strategic level, organizations of all sizes from all walks of life are scrambling to deploy large-scale AI solutions, which has driven the explosive demand for powerful and scalable infrastructure. However, the general infrastructure of traditional cloud vendors cannot meet the large-scale parallel processing capabilities and memory requirements required for AI workloads.

Sleepless AIIntro

Sleepless AI (AI) is...All

Sleepless AIMarkets

Price	$0.905 USD	Price Change (24h)	+1.12%	Trading Volume (24h)	$26,160,879.88 USD
Market Cap	$149,562,875 USD	Circulating Supply	140,937,500	Max Supply:	1,000,000,000

Disclaimer: The information provided in this section doesn't represent any investment tips or Bi123.co's official position.

A valuable blockchain information and data platform

Related News

P2P Taker Special: Trade to Share 7,000 USDC in Token Vouchers!
05-20 21:00
Calling For Project Applicants
05-20 19:00
Binance Web3 Wallet Earn Revamp: Introducing Yield Plus and Simple Yield!
05-20 16:11
Word of the Day: Test Your Knowledge on DApps to Earn Binance Points and More!
05-20 10:00

Similar News

MORE+