Nvidia-backed startup CoreWeave said to raise money valuing firm up to $8B
Justin Sullivan

Roseland, New Jersey-based CoreWeave, the Nvidia (NASDAQ:NVDA) backed start-up that recently raised $2.3B in debt using Nvidia's (NVDA) GPUs as collateral, is reportedly in talks to raise additional capital that could value the firm as much as $8B.
The cloud computing provider is reportedly working with an adviser to sell roughly 10% of the company at a valuation between $5B and $8B, Bloomberg reported, citing people with knowledge of the matter.

The valuation and stake sale could change, the news outlet added, citing the people. CoreWeave is expected to generate roughly $1.5B in revenue next year, one of the people added.
Neither CoreWeave nor Nvidia (NVDA) immediately responded to a request for comment from Seeking Alpha.
The company uses Nvidia's (NVDA) graphics processors, or GPUs, to build data centers and offer artificial intelligence cloud computing-as-a-service.
On Nvidia's (NVDA) most recent earnings call, CEO Jensen Huang said CoreWeave is doing "incredibly well" while discussing GPU specialized cloud service providers.