CoreWeave – a specialized cloud provider built for large-scale GPU-accelerated workloads – announced it has secured $221 million in Series B funding. This funding round was led by Magnetar Capital with contributions from NVIDIA and rounded out by Nat Friedman and Daniel Gross.
This latest funding round will be used for furthering expand CoreWeave’s specialized cloud infrastructure for compute-intensive workloads, which includes AI/ML, visual effects and rendering, batch processing, and pixel streaming to meet the explosive demand for generative AI technology. And this strategic focus has allowed CoreWeave to offer purpose-built and customized solutions that can outperform larger, more generalized cloud providers. The funding round will also support U.S.-based data center expansion with the opening of two new centers this year, bringing CoreWeave’s total North American-based data centers to 5.
NVIDIA has recently released the highest-performance data center GPU, the NVIDIA H100 Tensor Core, along with the NVIDIA HGX H100 platform. And CoreWeave announced at the NVIDIA GTC conference in March that its HGX H100 clusters are live and currently serving clients like Anlatan, the creators of NovelAI. In addition to HGX H100, CoreWeave offers more than 11 NVIDIA GPU SKUs, interconnected with the NVIDIA Quantum InfiniBand in-network computing platform, which are available to clients on demand and via reserved instance contracts.
KEY QUOTES:
“CoreWeave is uniquely positioned to power the seemingly overnight boom in AI technology with our ability to innovate and iterate more quickly than the hyperscalers. Magnetar’s strong, continued partnership and financial support as lead investor in this Series B round ensures we can maintain that momentum without skipping a beat. Additionally, we’re thrilled to expand our collaboration with the team at NVIDIA. NVIDIA consistently pushes the boundaries of what’s possible in the field of technology, and their vision and guidance will be invaluable as we continue to scale our organization.”
- CoreWeave CEO and co-founder Michael Intrator
“AI has reached an inflection point, and we’re seeing accelerated interest in AI computing infrastructure from startups to major enterprises. CoreWeave’s strategy of delivering accelerated computing infrastructure for generative AI, large language models and AI factories will help bring the highest-performance, most energy-efficient computing platform to every industry.”
- Manuvir Das, Vice President of Enterprise Computing at NVIDIA
“With the seemingly limitless boundaries of AI applications and technologies, the demand for compute-intensive hardware and infrastructure is higher than it’s ever been. CoreWeave’s innovative, agile, and customizable product offering is well-situated to service this demand and the company is consequently experiencing explosive growth to support it. We are proud to collaborate with NVIDIA in supporting CoreWeave’s next phase of growth as it continues to bolster its already strong positioning in the marketplace.”
- Ernie Rogers, Magnetar’s chief operating officer
