CoreWeave, a specialized cloud provider built for large-scale GPU-accelerated workloads, announced it has secured an additional $200 million in funding to propel its specialized cloud infrastructure to train, serve inference, and fine-tune models with AI.
This latest funding milestone comes from Magnetar Capital, a leading alternative asset manager. The funding extension 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.
“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.”
The company offers solutions purpose-built for compute-intensive workloads that are faster and less expensive than larger, more generalized cloud providers, according to the vendor.
CoreWeave’s 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.
“By combining easy access to high-powered GPUs for training AI models with fast and flexible infrastructure and by focusing on a specific type of compute, CoreWeave continues to differentiate itself from other companies in the space,” said Ernie Rogers, Magnetar’s chief operating officer. “Magnetar believes CoreWeave sits in a sweet spot for enabling world-class results across a number of industries. We are proud to have been the lead investor for CoreWeave’s Series B funding round and its extension.”
For more information about this news, visit www.coreweave.com.