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Nvidia-backed CoreWeave gets $650 million credit line from top Wall Street banks
CoreWeave, an Nvidia-backed AI startup that rents out GPUs to companies, announced Friday that it has a new $650 million credit line to expand its business.
CoreWeave, an Nvidia-backed artificial intelligence startup that rents out chips to other companies, announced Friday that it has a new $650 million credit line to expand its business and data center portfolio. "This credit facility provides additional liquidity to accelerate our growth strategy and capitalize on new opportunities in the rapidly evolving AI space," Mike Intrator, CoreWeave's co-founder and CEO, said in a press release. CoreWeave's new credit line is part of a broader trend, as banks are positioning themselves for a slice of the AI gold rush ahead of a number of potential IPOs in the space.
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