CoreWeave, an Nvidia-backed AI startup that rents out GPUs to companies, announced Friday that it has a new $650 million credit line to expand its business.
CoreWeave, an Nvidia-backed artificial intelligence startup that rents out GPUs to companies, said Friday that it has a new $650 million credit line to expand its business and data center portfolio.CREATE FREE ACCOUNT
The cloud infrastructure company said it's raised $12.7 billion from equity and debt investors in the past 18 months, including a $1.1 billion round in May at a AI models are notoriously expensive to build and train, requiring thousands of specialized chips that, to date, have largely come from. Most, if not all, tech companies that are power players in AI spend between hundreds of thousands and billions of dollars on Nvidia chips to make their models work. And in addition to developing the chips, Nvidia has taken stakes in emerging AI companies like CoreWeave, partly as a way to make sure its technology gets widely deployed.
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