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Coreweave
October 11, 2024
Coreweave Unicorn News - October 11, 2024
Coreweave, an AI startup backed by Nvidia, has secured a $650 million credit line from major Wall Street banks to expand its business operations and data center portfolio. This financial boost aims to accelerate Coreweave's growth in the competitive AI market.
() Introduction
() Nvidia-backed CoreWeave Secures $650 Million Credit Line for Business Expansion
CoreWeave, an artificial intelligence startup with support from Nvidia, has reached a significant financial milestone by securing a $650 million credit line from several leading Wall Street banks. The banks involved in this financial arrangement include JPMorgan Chase, Goldman Sachs, Morgan Stanley, Barclays, Citi, and Wells Fargo. This credit line is designed to facilitate CoreWeave's expansion of its business operations and enhancement of its data center portfolio. With this substantial financial support, CoreWeave aims to accelerate its growth strategy and leverage new opportunities in the rapidly advancing AI industry. This development is viewed as a strategic move to bolster CoreWeave's competitive position in the AI market.
Sources
1 https://biztoc.com/x/7ce9111478fedbe8
2 https://biztoc.com/x/f74f42320f1ef480
3 https://www.cnbc.com/2024/10/11/nvidia-backed-coreweave-picks-up-650-million-credit-line.html
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