The secondary offering also included participation from Investment Management Corporation of Ontario, Jane Street, J.P. Morgan Asset Management, Nat Friedman, Daniel Gross, Goanna Capital, Zoom Ventures and others.
“Our explosive growth trajectory has been recognized by top-tier institutional investors, and this transaction highlights the differentiation our market-leading performance, significant technology advantage, and strong customer adoption is receiving in the market,” said co-founder and CEO Michael Intrator in a release.
The massive jump in valuation — and high interest from big institutional investors — seems to indicate that while some predict a cooling off in AI investment, many are still willing to write big checks at big valuations.
In another reported offering of existing shares, Thrive Capital and others are still moving forward with a tender offer to buy OpenAI employee shares at a price that values the company at $85 billion.
The big-money transaction is just the latest for CoreWeave.
Founded in 2017, the company has raised a total of nearly $3 billion in debt and equity.
The specialized cloud provider — which actually started out as an Ethereum mining operation — offers flexible infrastructure with better processing needed to train large language models for AI.
- Specialized Cloud Provider CoreWeave Rides AI Wave To Another $200M Round
- Specialized Cloud Provider CoreWeave Locks Down $221M Investment
Illustration: Dom Guzman
Search less. Close more.
Grow your revenue with all-in-one prospecting solutions powered by the leader in private-company data.
Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.