CoreWeave Closes $642M Minority Investment

CoreWeave, a cloud computing provider located in Roseland, NJ, has closed a $642 million minority investment.

This sale brought the company’s valuation to $7 billion, Bloomberg reported.

The deal was led by Fidelity Management & Research Company, with additional participation from Investment Management Corporation of Ontario, Jane Street, J. P. Morgan Asset Management, Nat Friedman & Daniel Gross, Goanna Capital, Zoom Ventures and others.

Led by CEO Michael Intrator, CoreWeave’s portfolio of technology delivers a broad range of capabilities for machine learning and AI, graphics and rendering, life sciences, real-time streaming, and more.

“The AI industry is at an inflection point, and CoreWeave has played a central role in powering its evolution by delivering differentiated infrastructure to customers,” said Michael Intrator, co-founder and CEO of CoreWeave.

CoreWeave has provided infrastructure to some of the most prominent AI businesses, including Inflection AI and Mistral, doubled its data center presence from three to 14, and quadrupled its personnel headcount in the last year.

The company received a $2.3 billion debt financing facility in August from Magnetar Capital and Blackstone, with strategic participation from Coatue, DigitalBridge Credit, and funds and accounts managed by BlackRock, PIMCO, and Carlyle.

CoreWeave disclosed a $221 million Series B fundraising round in April led by Magnetar Capital, with contributions from NVIDIA, Friedman, and Gross. One month later, Magnetar Capital led a $200 million Series B extension.