CoreWeave closes $650 million secondary share sale at $23 billion valuation

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CoreWeave closes $650 million secondary share sale at $23 billion valuation - Channel News Asia

Quick Summary:

:AI cloud platform operator CoreWeave said on Wednesday it closed a $650 million secondary share sale to investors, a deal that a source familiar with the matter said more than tripled the company's valuation over the past year to $23 billion.

In the secondary stock sale, existing investors sold their holdings to new investors.

CoreWeave provides access to data centers and high-powered chips for AI workloads, mainly from its backer and AI bellwether Nvidia.