CoreWeave chief Michael Intrator tests market faith in AI hype

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Financial Times 2d ago

CoreWeave chief Michael Intrator tests market faith in AI hype - Financial Times

Quick Summary:

The deal, agreed in July 2023, meant Blackstone would lead a $2.3bn debt financing to CoreWeave, whose revenue was just $16mn at the time.

Intrator cultivated another early relationship that went on to pay big dividends for CoreWeave years later, according to people close to the company.

Intrator used the cash to buy tens of thousands more GPUs from Nvidia, growing CoreWeave’s stockpile to more than 250,000 chips, allowing it to attract more and larger customers and increase revenue to $1.9bn by 2024.