CoreWeave Raises $50M for New Fund From Magnetar Capital

CoreWeave Raises M for New Fund From Magnetar Capital
CoreWeave, the specialized cloud service provider and Ethereum miner, has raised $50 million from Magnetar Capital to provide high-performance computing infrastructure.“With this new round of growth financing, CoreWeave will expand its offering to make high performance computing available at the industry’s best performance-adjusted cost on a vastly broader scale,” CoreWeave CEO Michael Intrator said in a statement on Wednesday. The company said its cloud business grew 271% over the last 3 months and expects its total revenue to triple in 2021. CoreWeave, which primarily provides cloud services, applies computing power unused by its cloud clients to mine Ether. In total,…