CoreWeave raises $642m for AI cloud

CoreWeave GPU cloud

AI cloud infrastructure company CoreWeave has sold a minority stake in its business.

The $642 million minority investment round was led by Fidelity Management and Research, with a secondary offering from Daniel Gross, Goanna Capital, Investment Management Corporation of Ontario, Jane Street, JPMorgan Asset Management, Nat Friedman, and Zoom Ventures.

Bloomberg reports the company is now valued at $7bn.

Daniel Gross and Nat Friedman also participated in CoreWeave’s Series B funding round, which saw the company raise $221m at a $2bn valuation.

In August, CoreWeave secured a $2.3bn debt financing facility in a funding round that was led by Magnetar Capital and managed by Blackstone Tactical Opportunities. The investment also saw strategic participation from asset management firms Coatue and DigitalBridge Credit, as well as funds and accounts managed by BlackRock, PIMCO, and Carlyle.

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