Cisco and Pure Storage have backed CoreWeave, which is taking on Amazon in supplying cloud-based Nvidia graphics cards to companies for artificial intelligence.
CoreWeave, a cloud provider specializing in Nvidia graphics processing units, announced a $650 million secondary share sale, with Cisco and Pure Storage joining financial investors.
The Nvidia-backed startup has committed to spending nearly $9 billion on data center capacity from bitcoin miner Core Scientific.In the transaction, CoreWeave's existing stakeholders are selling shares to outside investors. Bloomberg reported last month that CoreWeave was targeting ain providing Nvidia's graphics processing units, or GPUs, to companies for AI workloads.
"We are a company that is one of the few companies in the world that's able to bring on this kind of infrastructure at the scale that's required to actually make a difference," CoreWeave co-founder and CEO Mike Intrator told CNBC's"its H200 GPUs had become available through CoreWeave, meaning the startup was the first cloud provider to reach general availability with the graphics cards.
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