After a significant fundraising round, CoreWeave, a leading provider of AI computing valued at $19 billion, opened its European headquarters in London. The New Jersey-based startup's first international project will be the establishment of two data centers in the UK as part of an investment of £1 billion ($1.25 billion). CoreWeave was established in 2017 and focuses on offering cloud-based AI computing services, which are necessary for executing machine learning and data processing algorithms. In order to meet the various needs of developers creating AI applications, the company provides on-demand access to a range of Nvidia GPUs.
AI-focused cloud computing startups have proliferated recently, with CoreWeave standing out in the crowded GPU cloud market. With the $1.1 billion it raised recently, its valuation has increased dramatically from $7 billion in December. This expansion is a part of a larger AI boom, as evidenced by the fact that Nvidia's market valuation surpassed $2 trillion in the previous year.
With the launch of Microsoft's new consumer AI division and Google's DeepMind, the UK is a global leader in AI research and development. About thirty people will be hired in a variety of roles, ranging from software engineering to finance, for CoreWeave's new headquarters near Brick Lane in East London. By the end of the year, the business plans to open two more data centers in the UK, demonstrating its strategic planning and dedication to improving service delivery in the area. CoreWeave wants to run 28 data centers globally by the end of 2024.