AI startup CoreWeave closes $650 million secondary share sale, with Cisco joining as investor [CNBC]
Core Scientific, Inc. (CORZ)
Company Research
Source: CNBC
The Nvidia-backed startup has committed to spending nearly $9 billion on data center capacity from bitcoin miner Core Scientific. CoreWeave was valued at $19 billion in May. CoreWeave, a startup that rents out Nvidia's artificial intelligence chips to other companies, said Wednesday that it closed a $650 million secondary share sale, with Cisco and Pure Storage investing alongside financial institutions. In the transaction, CoreWeave's existing stakeholders are selling shares to outside investors. Bloomberg reported last month that CoreWeave was targeting a $23 billion valuation for the deal, up from $19 billion in a $1.1 billion investment round announced in May. CoreWeave is going head-to-head with large cloud infrastructure providers, such as Amazon and Google in providing Nvidia's graphics processing units, or GPUs, to companies for AI workloads. The startup got a big boost last year, when Nvidia made an investment, and another stamp of approval after Microsoft enlisted t
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CORZ
News
- Core Scientific Announces Approval of Lease Amendments with the City of Denton to Enable High-Performance Computing ExpansionBusiness Wire
- Promoters tout data center's economic potential [Yahoo! Finance]Yahoo! Finance
- Core Scientific and Port Muskogee Break Ground on 100 MW HPC Data CenterBusiness Wire
- Core Scientific, Inc. (NASDAQ: CORZ) was upgraded by analysts at Roth Capital to a "strong-buy" rating.MarketBeat
- Core Scientific, Inc. (NASDAQ: CORZ) had its price target raised by analysts at BTIG Research from $15.00 to $19.00. They now have a "buy" rating on the stock.MarketBeat
CORZ
Earnings
- 11/6/24 - Miss
CORZ
Sec Filings
- 11/22/24 - Form 4
- 11/22/24 - Form 144
- 11/20/24 - Form 4
- CORZ's page on the SEC website