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

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.

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Category: EconomyBusiness

Markets: SingaporeIsrael

Topics: Source Coreweave Investors Secondary Year Billion Familiar Valuation Cloud Matter Sale

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 01:08:24 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 353 words

Reading Time: 2 minutes read

Sentences: 16 lines

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Copyright Owner: © Channel News Asia

News ID: 23577804

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