CNBC: Microsoft signs a multi-billion-dollar multi-year deal with CoreWeave

According to CNBC citing people familiar with the matter, Microsoft has signed a multi-billion-dollar multi-year agreement with CoreWeave, which has transitioned from an Ethereum mining company to a general-purpose cloud computing platform. CoreWeave announced on May 31 that it has received $200 million in Series B expansion round financing from Magnetar Capital, coupled with the $221 million Series B financing led by Magnetar Capital announced in April, CoreWeave’s total B round financing amounted to $421 million . CoreWeave was founded in 2017 by Intrator, Brian Venturo, and Brannin McBee. Initially CoreWeave focused on cryptocurrency applications, but over the past few years it has turned to general computing and AI generation techniques, such as text generation AI models. In April, CoreWeave announced the completion of $221 million in Series B financing, led by Magnetar Capital, with participation from Nvidia, former GitHub CEO Nat Friedman, and former Apple executive Daniel Gross. Magnetar Capital contributed $111 million, with Nvidia, Friedman, and Gross splitting the rest of the investment.