Nvidia-Backed CoreWeave Secures $650 Million Credit Line to Boost AI Infrastructure.

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Nvidia-backed startup CoreWeave secured a $650 million credit line to expand its data centers. CoreWeave raised over $12 billion over the past eighteen months in equity and debt financing. The nearly $1 billion round in May valued the company at $19 billion. By the end of 2024, it plans to operate twenty-eight data centers globally, with ten more scheduled for 2025. CoreWeave provides GPUs to firms like Microsoft and Mistral. Goldman Sachs, JPMorgan Chase, and Morgan Stanley led the financing.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:03NVIDIA-backed startup CoreWeave secured a $650 million credit line to expand its data
00:08centers.
00:09CoreWeave raised over $12 billion over the past 18 months in equity and debt financing.
00:15The nearly $1 billion round in May valued the company at $19 billion.
00:20By the end of 2024, it plans to operate 28 data centers globally, with 10 more scheduled
00:25for 2025.
00:26CoreWeave provides GPUs to firms like Microsoft and Mistral.
00:30Goldman Sachs, JPMorgan Chase, and Morgan Stanley led the financing.
00:34For all things money, visit Benzinga.com.

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