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What will be CoreWeave's market position in AI data centers by mid-2025?
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CoreWeave Secures $650 Million Credit Facility, Cisco Investment Valuing at $23 Billion
Oct 11, 2024, 12:25 PM
CoreWeave, an Nvidia-backed AI startup, has secured a $650 million credit facility led by JPMorgan, Goldman Sachs, and Morgan Stanley. This credit line aims to support CoreWeave's growth strategy and capitalize on new opportunities in the rapidly evolving AI space, according to CEO Mike Intrator. The company has raised $12.7 billion from equity and debt investors over the past 18 months. Cisco is also close to investing in CoreWeave, valuing the company at $23 billion as both companies aim to lead in AI data center development.
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