October 11, 2024: CoreWeave Secures $650M for AI Cloud Growth - CoreWeave Inc. has secured a $650 million credit line led by major investment banks to expand its AI cloud-computing operations globally. The company, previously valued at $19 billion, has already raised $12.7 billion in equity and debt. Specializing in Nvidia GPU-based cloud services for AI and rendering workloads, CoreWeave plans to double its data center capacity by end of 2024, adding 14 new centers globally. This funding aims to accelerate growth and capitalize on rising AI demand, as seen in the recent OpenAI funding.
