CoreWeave, a specialized cloud provider built for large-scale GPU-accelerated workloads, announced an additional $200 million in funding to expand its cloud GPU services.
The new funding , which was provided by Magnetar Capital (“Magnetar”), a leading alternative asset manager, comes just one month after the company announced $221 million in Series B funding, also led by Magnetar, bringing the total for the round to $421 million.
CoreWeave said its serverless orchestration layer makes it an attractive option for AI startups rushing to get a product to market, as teams can spin up workloads in as little as five seconds with increased portability, less overhead and less management complexity.
“In my 25-year career, I’ve never been a part of a company that’s growing like this,” said CoreWeave CEO and co-founder Michael Intrator. “It’s an incredible moment in time. From a demand standpoint, revenue and client scale, the rise has been exponential, and Magnetar has been an amazing partner from the beginning.”
CoreWeave was founded in 2017 and is based in Roseland, New Jersey.
