Cisco Systems Inc. agreed to invest in CoreWeave, a cloud-computing provider that’s among the hottest startups in artificial intelligence, as part of a transaction that values the company at $23 billion, according to people with knowledge of the matter.
CoreWeave, led by Chief Executive Officer Michael Intrator, has been discussing a so-called secondary transaction that allows existing shareholders such as employees to tender $400 million to $500 million of their holdings, Bloomberg reported last month. The deal is close to being completed, said the people, who asked not to be identified discussing private information.
Roseland, New Jersey-based CoreWeave ...
