GPU cloud infrastructure provider CoreWeave announced the completion of a $1.1 billion Series C financing round, led by Coatue, with participation from Magnetar (the main investor in the previous round), Altimeter Capital, Fidelity Management & Research Company and Lykos Global Management. A person familiar with the matter said that the new financing values the company at $19 billion, much higher than the $7 billion a few months ago.
The new financing will be used to support the rapid growth of CoreWeave's various business areas and expansion into new regions to meet the continued global demand for GPU-accelerated cloud infrastructure.
Currently, CoreWeave has only three data center infrastructure regions, all located in the United States. A spokesperson said the company plans to have 28 data centers by the end of this year, compared with 14 currently. (CNBC)