CoreWeave, the Roseland-based AI cloud startup, announced that it has closed a $650 million minority investment led by investors Jane Street, Magnetar, Fidelity Management & Research Company and entities administered by Macquarie Capital.
Additional participation has also come from Cisco Investments, Pure Storage, funds and accounts managed by BlackRock, Coatue, Neuberger Berman and others.
“The support from some of the leading financial institutions and technology innovators demonstrates the strength of and confidence in our AI Cloud platform from the market,” Mike Intrator, CEO and co-founder of CoreWeave said. “The recognition from both institutional and strategic investors underscores our position as a leading AI hyperscaler to build, train and serve some of the most significant AI workloads running today.”
Today’s news follows an announcement made in October that the firm signed a long-term lease with an Onyx Equities and Machine Investment Group partnership for the entirety of building 11 at The Northeast Science & Technology Center in Kenilworth, better known as the NEST.
CoreWeave plans to convert the 280,000-square-foot former lab and manufacturing building into a state-of-the-art data center.
CoreWeave also plans to invest $1.2 billion, and the Onyx Equities-led venture expects to spend over $50 million on the project, which will become CoreWeave’s first data center in New Jersey.
