CoreWeave secured $221 million in Series B funding for its cloud infrastructure optimized for large-scale GPU-accelerated workloads. Target workloads include artificial intelligence and machine learning, visual effects and rendering, batch processing and pixel streaming.
CoreWeave said its goal is to offer purpose-built, customized solutions that can outperform larger, more generalized cloud providers. The new capital will also support U.S.-based data center expansion with the opening of two new centers this year, bringing CoreWeave’s total North American-based data centers to five.
“CoreWeave is uniquely positioned to power the seemingly overnight boom in AI technology with our ability to innovate and iterate more quickly than the hyperscalers,” said CoreWeave CEO and co-founder Michael Intrator. “Magnetar’s strong, continued partnership and financial support as lead investor in this Series B round ensures we can maintain that momentum without skipping a beat. Additionally, we’re thrilled to expand our collaboration with the team at NVIDIA. NVIDIA consistently pushes the boundaries of what’s possible in the field of technology, and their vision and guidance will be invaluable as we continue to scale our organization.”
The round was led by Magnetar Capital with contributions from NVIDIA, and rounded out by Nat Friedman and Daniel Gross.
NVIDIA recently released the highest-performance data center GPU, the NVIDIA H100 Tensor Core, along with the NVIDIA HGX H100 platform. CoreWeave announced at the NVIDIA GTC conference in March that its HGX H100 clusters are live and currently serving clients such as Anlatan, the creators of NovelAI. In addition to HGX H100, CoreWeave offers more than 11 NVIDIA GPU SKUs, interconnected with the NVIDIA Quantum InfiniBand in-network computing platform, which are available to clients on demand and via reserved instance contracts.
