Mirror

Saga

Arthur

BlackRock

<img decoding="async" width="1200" height="675" src="https://coingape.com/wp-content/uploads/2024/02/nvidia-a100-gpu-on-sxm4-e1710843457715.jpg" class="attachment-full size-full wp-post-image" alt="NVIDIA-Backed CoreWeave Raises $7.5B From BlackRock &amp; Others Amid AI Push" style="float:right; margin:0 0 10px 10px;">
In a remarkable gust of developments, Nvidia-backed CoreWeave, an artificial intelligence cloud-computing startup, has recently made global headlines following the firm’s whopping $7.5 billion raised in debt financing. Aimed at boosting investments in cloud data centers, this financing comes amid the worldwide push for developing and pioneering AI technology. 
Building on the momentum of a recent $1.1 billion equity funding round, CoreWeave has strategically secured the abovementioned funds to propel its <a href="https://coingape.com/glossary/artificial-intelligence/">AI</a> journey to new heights. Here’s a comprehensive report on the financing round and CoreWeave’s AI venture. 
<h2 id="coreweave-raises-7-5-bln-in-debt-financing">CoreWeave Raises $7.5 Bln In Debt Financing</h2> 
According to recent reports, Blackstone Inc., an American investment management company, led the financing round for CoreWeave. Moreover, other investment giants participated, including Coatue, Carlyle, BlackRock, and many others. 
Notably, investors are primarily drawn toward <a rel="nofollow" href="https://www.coreweave.com/" target="_blank">CoreWeave</a>, as the New York-based company is a major supplier of Nvidia’s AI chips, which are crucial for running&nbsp;AI&nbsp;models. Further, with soaring demand for AI technology, especially after the launch of OpenAI’s ChatGPT in late 2022, CoreWeave’s access to Nvidia’s GPUs has made it highly&nbsp;sought after in the global AI market. 
Meanwhile, upon looking at the firm’s website, one can clearly see that CoreWeave boasts ‘performance that are up to 35x faster and 80% less expensive than generalized public clouds.’ This has aided the firm’s concrete standing in the AI market. 
Also Read: <a href="https://coingape.com/breaking-binance-exec-tigran-gambaryan-bail-rejected-by-nigerian-court/" target="_blank" rel="noopener">Binance Exec Tigran Gambaryan Bail Rejected By Nigerian Court</a> 
<h2 id="global-developments-on-ai-mirror-coreweave-s-saga">Global Developments On AI Mirror CoreWeave’s Saga</h2> 
Whereas, recent global endeavors orbiting AI have emerged in tandem with CoreWeave’s decision to enhance its AI-related offerings. CoinGape Media today spotlighted the phenomenal rise in <a href="https://coingape.com/news/stocks/reddit-stock-price-rallies-14-amid-openai-partnership-ai-growth-to-sustain-price-rally/">Reddit’s stock price</a>, primarily attributable to its partnership with OpenAI, another key player within the AI industry. 
Collectively, the shift of industries toward bringing out a more enhanced approach to AI underscores the tech’s rising adoption and popularity. Aligning with this, CoreWeave has been making monumental advancements, such as the one mentioned above. 
Also Read: <a href="https://coingape.com/arthur-hayes-sparks-speculations-cryptic-post-sol-price-rallies/" target="_blank" rel="noopener">Arthur Hayes Sparks Speculations With Cryptic Post As SOL Price Rallies</a> 
The post <a href="https://coingape.com/nvidia-backed-coreweave-raises-7-5b-from-blackrock-others-amid-ai-push/">NVIDIA-Backed CoreWeave Raises $7.5B From BlackRock &amp; Others Amid AI Push</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

NVIDIA-Backed CoreWeave Raises $7.5B From BlackRock & Others Amid AI Push

Table of Contents

Coingape News Media

Other articles published on May 17, 2024

JPMorgan, Morgan Stanley And UBS Among More Than 600 Firms Invested In Spot Bitcoin ETFs, Filings...

Notcoin in focus as KangaMoon excites with bonus sale

Whale XRP Membentuk Pandangan Bullish, Kripto Ripple Bakal Menuai Minat Lebih Tinggi?

FTX’s massive payout plan can impact Bitcoin’s price THIS way

BlackRock’s Spot Bitcoin ETF Breaks Records with 414 Holders

Turkey Announces Proposed Law to Regulate Cryptocurrencies

Join our free newsletter for daily crypto updates!