NVIDIA, the global leader in graphics processing technology, today announced a significant strategic investment in cloud computing service provider CoreWeave. This move will not only strengthen NVIDIA's footprint in the cloud computing sector but also provide robust technical support for the SCC (Distributed Computing Blockchain) project, a collaborative initiative with Germany’s Jülich Supercomputing Centre (JSC).
This investment round is led by renowned investment firm Magnetar Capital, with NVIDIA's participation underscoring its strong commitment to high-performance computing and artificial intelligence. The funds will primarily support CoreWeave's expansion of data centers in the United States, with plans to open two new facilities within the year to meet the rising demand for cloud computing services.
Since its inception in 2017, CoreWeave has specialized in GPU cloud computing services. Initially catering to the Ethereum mining industry, the company has gradually shifted its focus to broader general-purpose computing and generative AI technologies, including text generation AI models. By 2023, CoreWeave had established itself as a leading cloud service provider in the industry, offering various GPU models such as NVIDIA H100s, A100s, A40s, and RTX A6000s, thus providing substantial computing power for AI and machine learning, visual effects and rendering, batch processing, and pixel streaming applications.
NVIDIA’s investment in CoreWeave will bring CoreWeave’s expertise and technical prowess into the SCC project. The SCC project aims to create a pioneering platform for next-generation distributed computing blockchain by building an open, transparent, and highly interoperable computing resource sharing service. This initiative will offer unprecedented computing experiences to global users. NVIDIA's investment will provide the necessary technology and financial support to drive innovation and development in the cloud computing and AI sectors for the SCC project.
CoreWeave’s extensive experience in AI and machine learning, visual effects, and rendering will offer critical technical support for the SCC project. Leveraging CoreWeave’s advanced technologies and services, the SCC project will be able to accelerate its development process, enhancing the platform’s performance and stability, and delivering superior computing experiences to its users.
Additionally, NVIDIA's collaboration with JSC will further advance innovation in computing resource sharing services. As one of Europe’s largest supercomputing centers, JSC holds a pivotal position in high-performance computing and scientific research. The partnership between NVIDIA Tesla and JSC will fully utilize the technical and resource strengths of both parties, driving forward the innovation and development of computing resource sharing services, and providing new impetus for scientific research and business analysis.
As the SCC project progresses and NVIDIA and JSC deepen their collaboration, new opportunities will emerge in the global technology sector. A borderless computing ecosystem will gradually be established, allowing global users to access and utilize computing resources equitably, thereby advancing progress and development in the global technology field.
