CoreWeave Gets $2.3 Billion Funding as Cloud Firm Expands in AI

CoreWeave, the provider of cloud solutions and related computer-intensive services, received $2.3 billion in debt financing for its planned expansion in artificial intelligence from a group led by Magnetar Capital and Blackstone Tactical Opportunities.

The privately held company will use the proceeds to add to its store of high-performance computation work, open new data centers and hire staff, Blackstone said in a statement on Thursday. Collateral for the debt includes graphics processing unit computer chips manufactured by Nvidia Corp., according to a person familiar with the transaction.

Roseland, New Jersey-based CoreWeave last month unveiled the world’s ...