GPU cloud infrastructure provider CoreWeave completes $1.1 billion Series C financing, led by Coatue

According to BlockBeats, on May 2, CoreWeave, a cloud service provider focusing on artificial intelligence, 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. 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 explosive global demand for GPU-accelerated cloud infrastructure. Mike Intrator, co-founder and CEO of CoreWeave, said that CoreWeave's position as a key infrastructure provider for artificial intelligence development continues to consolidate, and the continued trust of high-level investors has verified its huge opportunities in defining the next generation of cloud computing. As companies increasingly recognize the potential of artificial intelligence in improving efficiency, productivity, expanding revenue, reducing costs, and bringing growth and innovation at the strategic level, organizations of all sizes in all industries are scrambling to deploy large-scale AI solutions, which has driven the explosive demand for powerful and scalable infrastructure. However, the general infrastructure of traditional cloud vendors cannot meet the large-scale parallel processing capabilities and memory requirements required for AI workloads.