Cloud computing firm CoreWeave raises another $200 million amid AI boom

Specialized cloud computing provider CoreWeave has raised $200 million in funding from its existing investor Magnetar Capital, highlighting investor interest in backing infrastructure powering the generative AI boom.

The funding, which valued the company at more than $2 billion, comes weeks after CoreWeave raised $221 million from investors including Magnetar Capital and Nvidia.

CoreWeave specializes in providing cloud computing services based on graphics processing units (GPUs), the category of chip pioneered by Nvidia that has become central to artificial intelligence (AI) services like OpenAI’s ChatGPT.