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CoreWeave Raises $1.1B, Valuation Hits $19B in Latest Funding Round

May 1, 2024, 02:49 PM

CoreWeave, a New Jersey-based AI cloud computing startup, has successfully raised $1.1 billion in a funding round led by Coatue, with participation from major investors including Fidelity and Magnetar Capital. This recent influx of capital has elevated CoreWeave's valuation to $19 billion. The company, which specializes in renting out chips for AI system development, has achieved this significant valuation just five months after a prior funding round where it raised $642 million.