Coreweave, Specialized Cloud Provider, Raises $50 Million In New Capital From Magnetar

Nov 10, 2021•about 4 years ago

Amount Raised

$50 Million

Springfield

Description

CoreWeave, a specialized cloud provider built for NVIDIA GPU-accelerated workloads, today announced it has raised $50 million from Magnetar Capital, a leading alternative investor based in Evanston, Ill., to scale its infrastructure. The news follows a year of incredible growth for CoreWeave, with its total revenues on pace to triple in 2021, and its cloud business growing 271% over the last 3 months alone.

Company Information

Company

Core Weave

Location

Springfield, Oregon, United States

About

CoreWeave is a specialized cloud provider, delivering a massive scale of accelerated compute resources on top of the industry's fastest & most flexible infrastructure. CoreWeave builds cloud solutions for compute intensive use cases - VFX / Rendering, Machine Learning & AI, Batch Processing, Pixel Streaming and Blockchain - that are up to 35x faster and 80% less expensive than the large, generalized public clouds. SOURCE CoreWeave

Funding Insights

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Coreweave, Specialized Cloud Provider, Raises $50 Million In New Capital From Magnetar

Description

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Company Information