"Nvidia-Backed CoreWeave Seeks Stake Sale At Up To $8B Valuation" - BNN Bloomberg
Portfolio Pulse from Happy Mohamed
Cloud computing provider CoreWeave is exploring a minority stake sale that could value the company at up to $8 billion. The company, which was an early adopter of Nvidia Corp. graphics chips for data centers, is building out data centers based on Nvidia’s chips to offer artificial intelligence-related computing as a service. CoreWeave has raised $421 million in equity this year, including from Nvidia, which is valued at more than $1.2 trillion. Microsoft Corp. has agreed to spend billions of dollars over several years on cloud infrastructure from CoreWeave.
August 30, 2023 | 4:27 pm
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POSITIVE IMPACT
Microsoft's agreement to spend billions of dollars over several years on cloud infrastructure from CoreWeave could potentially impact Microsoft's stock positively, as it indicates Microsoft's continued investment in cloud infrastructure.
Microsoft's agreement to spend billions on CoreWeave's cloud infrastructure could be seen as a positive sign of Microsoft's continued investment in cloud infrastructure, which could potentially boost Microsoft's stock.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
Nvidia, a backer of CoreWeave, could see a positive impact from the potential stake sale of CoreWeave. The use of Nvidia's chips in CoreWeave's data centers could further strengthen Nvidia's position in the AI and data center market.
Nvidia's backing of CoreWeave and the latter's use of Nvidia's chips in its data centers could potentially boost Nvidia's stock. The potential stake sale of CoreWeave could also bring in more capital for Nvidia, further strengthening its financial position.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80