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Search resuls for: "Michael Intrator"


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Fresh off a $1.1 billion equity funding round, artificial intelligence infrastructure startup CoreWeave has raised $7.5 billion in debt to more heavily invest in its cloud data centers. That means CoreWeave, backed by Nvidia, is going up against the world's top cloud infrastructure operators, including Amazon and Google . On its website, CoreWeave claims to have lower on-demand prices than any major cloud company. Even Microsoft , the world's second-largest provider of cloud infrastructure, has started relying on CoreWeave to help supply OpenAI with the computing power it needs. Such GPUs were used as collateral in a $2.3 billion debt round last year, Reuters reported.
Persons: Michael Intrator, CoreWeave, ChatGPT, Colette Kress Organizations: CNBC, Investors, Nvidia, Amazon, Google, Microsoft, Citigroup, Reuters Locations: Carlyle, BlackRock
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoreWeave CEO Michael Intrator discusses the competitive AI landscapeMichael Intrator, CoreWeave CEO, joins 'Closing Bell Overtime' to talk raising $1.1 billion in latest funding round, competition in the AI space, and more.
Persons: Michael Intrator
Aug 3 (Reuters) - Specialized cloud provider CoreWeave has raised $2.3 billion in a debt facility led by Magnetar Capital and Blackstone (BX.N) and collateralized by Nvidia chips, with the funds to be used to expand to meet rising AI workload, the company said on Thursday. Other lenders in the facility include Coatue and DigitalBridge (DBRG.N), as well as BlackRock, PIMCO, and Carlyle (CG.O). Nvidia-backed CoreWeave has seen a boost from the generative AI boom thanks to its purpose-built cloud infrastructure at scale. It has partnerships with AI startups and cloud providers, which it also competes with, to build clusters to power AI workload. CoreWeave also raised $421 million in equity this year led by Magnetar Capital at a valuation of over $2 billion.
Persons: Carlyle, Michael Intrator, CoreWeave, Krystal Hu, Conor Humphries Organizations: Magnetar Capital, Blackstone, Nvidia, Nvidia H100, CoreWeave, Microsoft, Google, Thomson Locations: BlackRock, PIMCO, Texas, U.S, New York
Microsoft 's massive investment in OpenAI has put the company at the center of the artificial intelligence boom. CoreWeave sells simplified access to Nvidia's graphics processing units, or GPUs, which are considered the best available on the market for running AI models. The generative AI rush began late last year after OpenAI introduced ChatGPT to the public, demonstrating that AI can take human input and produce sophisticated responses. Many companies, including Google , have since rushed to add generative AI into their products. With so much demand for its infrastructure, Microsoft needs additional ways to tap Nvidia's GPUs.
Persons: it's, OpenAI, ChatGPT, Michael Intrator Organizations: Microsoft, CNBC, Google, Windows Locations: OpenAI
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