Specialized cloud provider CoreWeave has raised $2.3 billion in a debt facility led by Magnetar Capital and Blackstone and collateralized by Nvidia chips, with the funds to be used to expand to meet rising AI workload, the company said on Thursday.
The new financing will be used to acquire more graphics processing units, invest in data centers and hiring, the company said. It announced an $1.6 billion data center in Texas last week and aims to expand to 14 in the U.S. by year end.
CoreWeave also raised $421 million in equity this year led by Magnetar Capital at a valuation of over $2 billion.Thomson Reuters Krystal reports on venture capital and startups for Reuters. She covers Silicon Valley and beyond through the lens of money and characters, with a focus on growth-stage startups, tech investments and AI. She has previously covered M&A for Reuters, breaking stories on Trump's SPAC and Elon Musk's Twitter financing. Previously, she reported on Amazon for Yahoo Finance, and her investigation of the company's retail practice was cited by lawmakers in Congress.
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