One of the fastest growing venture backed companies focused on providing access to GPUs is getting ready to go to the next level.
What’s happening:
- Specialized GPU cloud provider Coreweave has raised $1.1B USD in a new Series C financing round
- The round was led by Coatue, with notable participation from Altimeter Capital and Fidelity Management and Research Company
Why it matters:
- Coreweave has been an early leader in providing access to GPUs for startups building leading edge artificial intelligence technology amidst a boom in venture capital funding for startups focused on artificial intelligence
By the numbers:
- Coreweave previously secured $2.3B USD in a debt deal led by Magnetar and Blackstone
- In the last 12 months, Coreweave has built out 9 new data centres to expand their cloud computing capacity
Going deeper:
- Coreweave has a number of notable early backers including chip maker Nvidia (NASDAQ: NVDA) and plans to begin expanding their data centre operations outside of the United States and into Europe in the near future
The intrigue:
- The race to build out and acquire new data centres for cloud computing capacity has been a rapidly growing trend, with Amazon and Starwood Capital recently making new moves to get in on the growing opportunity around artificial intelligence workloads
