CoreWeave, a former Ethereum mining company, recently succeeded in raising an impressive $221 million in funding. This new venture is looking to support and grow the demand for Artificial Intelligence (AI) and Machine Learning (ML). CoreWeave provides users with access to Nvidia GPUs as part of their cloud-based database, in order to carry out a variety of tasks from rendering and batch processing to pixel streaming.

Google Cloud, Azure, and AWS are the longstanding cloud providers for AI, however CoreWeave arguments that the legacy systems within these cloud services are unable to meet the current needs of AI companies. The startup has created a system that can automatically scale to within three seconds, plus offer customers discounts and hardware resources on the cloud. Already they have garnered a vast range of customers with over 1,000 users across multiple industries.

The sensational investment has allowed CoreWeave to make plans to develop further, customizing solutions to outperform other cloud providers. CoreWeave is expecting that demand for AI inference is propelling, readying their infrastructure and culture to meet these growing expectations. The company and its investors are positive in the success that AI can achieve, believing that the new funding will open up several new possibilities.



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