Nvidia-backed cloud-computing company CoreWeave has netted a $19 billion valuation following a $1.1 billion funding round with investors including Fidelity and Magnetar Capital, according to a Wall Street Journal report.
If accurate, it would represent a 173% increase in CoreWeave’s valuation following a December 2023 funding round led by Fidelity.
CoreWeave is a specialized cloud-computing provider focusing on GPU-accelerated computing.
Its unique partnership with NVIDIA Corp (NASDAQ:NVDA, ETR:NVD) means it can provide clients with access to the most cutting-edge artificial intelligence-optimised computing infrastructure.
CoreWeave used its arsenal of Nvidia H100 graphics processing units as collateral in a $2.3 billion debt facility led by Magnetar Capital and Blackstone last August.