Cision PR Newswire
CoreWeave Expands Investor Base with $650 Million Secondary Sale
Transaction demonstrates confidence from institutional and strategic investors in CoreWeave's differentiated cloud platform
ROSELAND, N.J., Nov. 13, 2024 /PRNewswire/ -- CoreWeave, the AI Hyperscaler™, today announced that it has closed a minority investment of $650 million led by investors Jane Street, Magnetar, Fidelity Management & Research Company and entities administered by entities administered by Macquarie Capital, with additional participation from Cisco Investments, Pure Storage, funds and accounts managed by BlackRock, Coatue, Neuberger Berman and others.
"The support from some of the leading financial institutions and technology innovators demonstrates the strength of and confidence in our AI Cloud platform from the market," said Mike Intrator, CEO and co-founder of CoreWeave. "The recognition from both institutional and strategic investors underscores our position as a leading AI hyperscaler to build, train and serve some of the most significant AI workloads running today."
Today's news follows CoreWeave's recently announced $650 million credit facility, led by JPMorgan Chase, Goldman Sachs, and Morgan Stanley, with participation from Barclays, Citi, Deutsche Bank, Jefferies, Mizuho, MUFG, and Wells Fargo.
The CoreWeave Cloud platform is purpose-built for highly complex and demanding computing needs. Trusted by some of the world's leading AI labs and enterprises, CoreWeave's platform manages complexity through automation to maximize infrastructure performance and efficiency, empowering customers to get to market faster.
CoreWeave engaged Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC in connection with this transaction.
About CoreWeave
CoreWeave, the AI Hyperscaler™, delivers a cloud platform of cutting-edge software powering the next wave of AI. The company's technology provides enterprises and leading AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the US and Europe. CoreWeave was ranked as one of the TIME100 most influential companies and featured on Forbes Cloud 100 ranking in 2024. Learn more at www.coreweave.com.
CONTACT: Brittany Stone, CoreWeave@teneo.com
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SOURCE CoreWeave
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