CoreWeave attracts $7.5 billion for AI Data Centers

CoreWeave, which operates a growing footprint of data centers dedicated to AI, raised a massive a $7.5 billion debt financing facility. 

CoreWeave recently opened a new European headquarters in London and has announced a$1.25 billion investment commitment in Europe.

"CoreWeave is building the infrastructure to power the AI innovations that are already changing how businesses operate in the global economy," said Michael Intrator, CoreWeave CEO and co-founder. "The caliber of investors in this large debt financing round is a powerful testament to both the insatiable market appetite for AI infrastructure and their belief in CoreWeave's ability to deliver cutting edge innovation for the largest AI labs and innovators at scale. And we are really just getting started - our ambitions are to help reshape the cloud landscape, accelerate the AI race, and power the next generation of AI innovation that is changing the course of history."

The financing is led by funds managed by Blackstone, with significant contributions from Magnetar (Co-Lead Investor) and Coatue. Additional participation came from Carlyle, CDPQ, DigitalBridge Credit, funds and accounts managed by BlackRock, Eldridge Industries, and Great Elm Capital Corp. The funding will be used to expand CoreWeave's high-performance computing capabilities to meet the demands of existing contracts with leading enterprise customers and AI innovators.

Highlights:

• Debt Financing Facility: $7.5 billion led by Blackstone.
• Strategic Investors: Magnetar (Co-Lead Investor), Coatue, Carlyle, CDPQ, DigitalBridge Credit, BlackRock funds and accounts, Eldridge Industries, Great Elm Capital Corp.
• Total Capital Raised: Over $12 billion from equity and debt investors in the past 12 months.

Notable Fundraising Events:

• $1.1 billion Series C in May 2024, led by Coatue.
• $2.3 billion debt financing facility in August 2023, led by Blackstone and Magnetar.

Data Center Growth:

• Expanded from 3 to 14 data centers in 2023.
• Plans to double data center footprint to 28 globally by the end of 2024.

CoreWeave's rapid expansion and substantial funding underscore its position as a key player in the AI infrastructure space, poised to meet the growing demands of the AI industry.

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Tech Update: Quantum-Safe over Long-Haul Subsea + Terrestrial

Sparkle has just completed the first quantum-encrypted Internet Protocol secure (IPsec) tunnel between Italy and Germany using Arqit’s Symmetric Key Agreement Platform. Curious about the future of quantum-safe VPNs and how they can revolutionize your business operations? Daniele Mancuso, Chief Marketing and Product Management from Sparkle, explains:

- The successful completion of the first proof of concept of a Quantum-safe VPN IPC VPN between Sicily and Frankfurt, a 2,000 km network that spans on top of terrestrial and subsea networks. This is the first trial on a production network that spans between two countries.

- The anticipation of the advent of quantum computers, which could disrupt current cryptographic algorithms. Sparkle is already preparing for this possible disruption, with a commercial launch planned by the end of the year. This will provide an upgrade to customers, offering a software-based VPN that allows the exchange of symmetrical keys that are quantum resistant.

- The ongoing infrastructure developments, including the completion of a flagship data center in Panama, the upgrade of a second module of a data center in Metamorphosis, and the announcement of a new infrastructure in the Mediterranean called Green Med.

https://youtu.be/oE1iE1NvOfg

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Sparkle tests IPsec VPN with quantum encryption over fiber network

Sparkle and Arqit Quantum Inc., company specialized in quantum-safe encryption, completed a Proof of Concept (PoC) on the first Internet Protocol secure (IPsec) tunnel between Italy and Germany using Arqit’s Symmetric Key Agreement Platform. The test was supported by Telsy, a TIM Group company specialized in cybersecurity.

The PoC showcases the integration of Quantum Arqit's technology using Symmetric Key Agreement (SKA) into Sparkle's state-of-the-art network infrastructure, ensuring enhanced encryption methods for data transmission across geographical borders.

Sparkle describes the test as the first step toward a software quantum-safe Virtual Private Network (VPN). Being software based, the SKA Platform is quickly and easily scaled across any existing telecom network ensuring that sensitive data remains protected against potential decryption by future quantum algorithms, thereby mitigating the risks associated with evolving cybersecurity threats.

Daniele Mancuso, Sparkle's Chief Marketing & Product Management Officer said: “Our state-of-the-art global network provides critical services to carriers, institutions and enterprises who choose and trust Sparkle’s leading secure connectivity services to keep their data safe. The successful completion of the quantum-safe VPN PoC, preliminary to a large-scale commercial launch, anticipates the potential threat of quantum decryption and confirms our market leading commitment to continuously elevating the security and resilience of Sparkle’s infrastructure.” 

David Williams, Arqit Founder, Chairman and CEO said: “Sparkle’s establishment of the first quantum-safe VPN between Catania and Frankfurt signifies a key milestone in telecoms cybersecurity. By leveraging Arqit's SKA Platform, Sparkle is pioneering a new era of secure communication, ensuring the resilience of critical networks against the looming threat of quantum adversaries.”

https://www.tisparkle.com/media/press-release/sparkle-successfully-completes-first-test-international-vpn-protected-quantum

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Tech Update: Can Global Carriers Keep Ahead of AI Data Center Demands?

Almost every day we hear of new AI data center projects all around the world. Is the international infrastructure, including subsea cables, keeping up with the exponential increase in data traffic? Speaking at ITW in Washington, D.C., Michael Trabbia, CEO from Orange Wholesale explains:

- The global internet experiences a 20 to 30% traffic growth every year, necessitating a dramatic increase in infrastructure. This includes submarine cables, long haul fiber, and the backbone of the internet that needs constant rebuilding to accommodate the data traffic surge.

- Orange manages extensive infrastructure, including 450,000 km of submarine cables, 45,000 km of backbone fiber, and 27,000 towers for mobile subscribers. This infrastructure is key to their strategy and they continue to invest in it, not only to serve their customers but also to collaborate with other telcos worldwide to ensure the internet remains global.

- Despite the increasing demand for traffic, Trabbia remains optimistic about the ability to invest fast enough in the infrastructure to manage it. The traffic growth is well-known, and they know the routes to invest in and how to work together with other telcos to mutualize the investment. This collaboration will continue to improve the quality of the internet and prepare it for the demands of generative AI and the internet of tomorrow.

https://youtu.be/DEzHasyqOgU

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Hyper Photonix releases 800G DR8 Optical Transceivers

Hyper Photonix announced general availability (GA) of its 800G DR8 products. The 800G DR8 leverages Hyper Silicon's silicon photonics platform, and demonstrates scalability of its highly successful 400G DR4 product line.

Hyper Photonix 800G optics are available in QSFP-DD112 and OSFP-112 form-factors and 500m to 10km reach, and they are compatible with NVIDIA/Infiniband and Ethernet ecosystems. With completion of comprehensive qualification testing, these 800G products are now in mass production at the company’s high-volume automated manufacturing facility. This milestone underscores Hyper Photonix's commitment to delivering reliable, high-performance, cost-optimized, next-gen transceivers to its customers worldwide and bridging the gap in global optical interconnect supply and surging AI/ML-driven demand.

"The 800G optical transceiver product line represents the company’s relentless pursuit of innovation and excellence," said Xavier Clairardin, CEO of Hyper Photonix. "Built on the Hyper Silicon™ platform, these transceivers offer performance, reliability, and capacity tailored to the demands of hyperscale data centers. The cost and power optimized design makes the QSFP-DD112 and OSFP-112 transceivers ideal for Ethernet and Infiniband AI/ML applications."

Looking ahead, Hyper Photonix is expanding its portfolio of parallel single-mode optics further. The company will announce additional 800G and 1.6T products later this year, including the highly anticipated linear pluggable optic (LPO) and active optical cable (AOC) configurations, further solidifying its position as an industry leader in high-speed optical interconnects.

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DC BLOX completes Myrtle Beach to Atlanta fiber route

DC BLOX activated a new dark fiber route connecting its Myrtle Beach Cable Landing Station (CLS) to Atlanta. The new high-capacity East-West route serves as the new backbone to the Southeast region enabling hyperscalers, global and regional communications providers, local ISPs and enterprises to connect regionally and internationally.

In October 2023, DC BLOX completed its new Cable Landing Station (CLS) in Myrtle Beach, South Carolina. The new fiber route provides direct terrestrial connectivity from the CLS to the rapidly growing data center and communications center of Atlanta. The route runs from Myrtle Beach, SC, near Charleston, SC, through Augusta, GA to the major downtown connectivity centers in Atlanta including 56 Marietta Street, and on to the growing data center base in Lithia Springs, GA.

“With our regional colocation data centers, the Myrtle Beach CLS, our regional network, and this new dark fiber route, DC BLOX is building the infrastructure needed to support the Southeast’s rapid growth,” said Kurt Stoever, Chief Operating Officer of DC BLOX. “Digital infrastructure is the foundation that will drive the economies of the 21st century, and DC BLOX is proud to be enabling our communities to thrive.”

DC BLOX is also building a dark fiber ring around Atlanta which will connect into two hyperscale-ready data center facilities in development east and west of the city. The metro-Atlanta fiber ring will also connect to the East-West route further expanding global connectivity options from the area.

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