CoreWeave Secures $1.1 Billion in Funding, Valuation Soars to $19 Billion

The AI cloud startup's latest investment round marks a significant increase from its previous valuation, positioning it as a major player in the GPU cloud market.

CoreWeave, an AI cloud firm, received a $1.1 billion investment, elevating its valuation to $19 billion.
The funding round was led by Coatue, with significant contributions from Fidelity and other notable investors.
This capital injection aims to expand CoreWeave's global presence and enhance its GPU infrastructure.
Despite the investment, concerns remain about the profitability of AI ventures, as indicated by Meta's recent market performance.
CoreWeave's growth reflects broader trends in venture funding for AI startups, with a slight increase in investments noted in Q1 2024.