Reported 11 days ago
CoreWeave, an AI cloud platform, successfully closed a $650 million secondary share sale, tripling its valuation to $23 billion within a year. The investors, which included Jane Street and Fidelity Management, highlight Wall Street's growing interest in AI infrastructure as the demand for generative AI services skyrockets. CoreWeave, primarily backed by Nvidia, offers critical access to data centers and powerful chips for AI workloads. With increasing funding in the AI sector, projections suggest private AI and cloud company investments could reach $79.2 billion by the end of 2024.
Source: YAHOO