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Market reaction to CoreWeave's financing growth by 2024
4
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Negative • 33%
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Story
CoreWeave Raises $7.5 Billion in Debt Financing, Totaling $12 Billion, Backed by Nvidia and Magnetar
May 17, 2024, 11:13 AM
CoreWeave, an artificial-intelligence cloud-computing startup backed by Nvidia, has raised $7.5 billion in debt financing from investors including Blackstone, Carlyle Group, BlackRock, and Magnetar. This financing comes two weeks after CoreWeave raised $1.1 billion. The company plans to use the capital for GPU purchases, as well as servers and networking equipment. CoreWeave has now raised a total of $12 billion in the past year. Nvidia's stock was down 0.2% pre-market.
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