CoreWeave Closes Secondary Sale of $642M


CoreWeave, a Roseland, NJ-based specialized GPU cloud provider, has closed a minority investment of $642M.

The deal was led by Fidelity Management & Research Company, with additional participation from Investment Management Corporation of Ontario (“IMCO”), Jane Street, J. P. Morgan Asset Management, Nat Friedman & Daniel Gross, Goanna Capital, Zoom Ventures and others.

Led by CEO Michael Intrator, CoreWeave is a specialized GPU cloud provider designed to power the most complex workloads with customized solutions at scale. The company’s portfolio of technology delivers a broad range of capabilities for machine learning and AI, graphics and rendering, life sciences, real-time streaming, and more. Its teams, talent, and engineering prowess bring speed-to-market for advanced compute.

CoreWeave operates a growing footprint of datacenters covering every region of the US.

In April, CoreWeave announced it had raised $221 million in Series B funding led by Magnetar Capital with contributions from NVIDIA, Nat Friedman and Daniel Gross. One month later, the company secured $200 million in a Series B extension, also led by Magnetar Capital. In August, CoreWeave announced that it secured a $2.3 Billion debt financing facility led by Magnetar Capital and Blackstone and with strategic participation from Coatue, DigitalBridge Credit, and funds and accounts managed by BlackRock, PIMCO, and Carlyle.