CoreWeave, a Springfield NJ-based specialized cloud provider built for NVIDIA GPU-accelerated workloads, raised $50M in funding.
The round was led by Magnetar Capital.
The company intends to use the funds for scaling its specialized cloud offering and revenue growth.
Led by Michael Intrator, CEO, and Brian Venturo, Chief Technology Officer, CoreWeave builds cloud solutions for compute intensive use cases – VFX / Rendering, Machine Learning & AI, Batch Processing, Pixel Streaming and Blockchain – that aim to be faster and less expensive than the large, generalized public clouds.
The company is an Elite Cloud Service Provider in the NVIDIA Partner Network.