CoreWeave has just landed one of the largest private debt deals ever for a cloud computing company.
What’s happening:
- Cloud computing company and specialized GPU provider CoreWeave has announced a new $7.5B USD debt deal led by Blackstone, Magnetar and Coatue
Why it matters:
- This is one of the largest private debt financings ever done for artificial intelligence cloud computing
- Access to GPUs has been one of the largest constraints on venture backed artificial intelligence startups, which has led to a boom in new data centre infrastructure being built and even Bitcoin mining companies adding GPUs to their existing operations
By the numbers:
- CoreWeave has now landed a total of $9.8B USD in debt financing since inception
Going deeper:
- CoreWeave also recently announced a $1.1B USD Series C financing round which was led by Altimeter Capital and Fidelity Management and Research Company
The intrigue:
- Artificial intelligence computing demand is also leading to some of the largest technology companies in the world to begin building out renewable energy infrastructure to power their data centres, with Microsoft (NASDAQ: MSFT) recently announcing the largest renewable energy deal ever done by a publicly traded company and Amazon (NASDAQ: AMZN) recently purchasing a data centre campus powered entirely by nuclear energy