AI infrastructure provider CoreWeave has raised $7.5bn in debt to invest into building further data centres.
The company’s website claims its infrastructure is 80% cheaper than competitors while maintaining a 50% reduction in latency.
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The funding round was led by Blackstone’s and featured participation from BlackRock, Coatue and Carlyle.
Just last week, CoreWeave announced a new London office and committed to opening two new data centres in the UK worth over $1.25bn.
On 1 May, CoreWeave was valued at $19bn, triple what it had been worth five months earlier.
By the end of 2024, CoreWeave stated that it will aim to have around 28 data centres operating globally. This is an increase from only 14 data centres at the end of 2023, all of which were located in the US.
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By GlobalDataIn its 2024 executive briefing on AI, research and analysis company GlobalData forecast the total AI market to exceed a value of $1,037bn by 2030, achieving a CAGR of 39% from 2023.
The rising demand for AI across business will increase demand for AI infrastructure like chips and data centres.
In a 2024 tech sentiment survey, around 27% of businesses answered that they already had a high adoption rate of AI into their daily workflows.
The AI chips market will be worth $116bn by 2030, with AI chips accounting for nearly 30% of total global chip production.
