GPU Cloud Computing in New Jersey, USA CoreWeave The company was valued at $19 billion in its latest funding round, and it is opening an office in London, becoming one of the most profitable companies in the world.EuropeHeadquarters.
CoreWeave has announced that it will open two data centers in the UK this year as part of a £1 billion ($1.25 billion) investment.firstDoing business outside the United States.
Founded in 2017, CoreWeave is one of the AI Cloud Computing CompanyCoreWeave is one of the companies that has benefited from the recent boom in AI, including the generative AI craze sparked by OpenAI’s ChatGPT. CoreWeave provides cloud-based AI “compute,” which is the infrastructure and resources needed to perform computational tasks, such as processing data and running machine learning models.
Source Note: The image is generated by AI, and the image is authorized by Midjourney
Developers developing AI applications need access to GPUs (graphics processing units), which are complex to set up and manage, and expensive because they are usually rented for a certain period of time. CoreWeave provides processing power on demand and at scale, providing developers with a variety of Nvidia GPUs to meet their different use case needs.
There are a number of players emerging in this emerging field, and they are also supported by funding. Lambda raised $320 million in funding a few months ago, and last month, French startup FlexAI emerged from stealth with $30 million in funding and is focused on deploying AI models on multiple architectures, not just Nvidia.
CoreWeave is one of the leaders in the GPU cloud space. Last week, the company said it had raised $1.1 billion in a funding round that nearly tripled its valuation from the $7 billion it reported last December. Such is the AI gold rush, Nvidia itself has doubled its market value in the past 12 months to more than $2 trillion.
The UK and AI
The UK is considered one of the countries investing the most in AI, after the US and China. Google's DeepMind is headquartered in London, and Microsoft recently pledged to invest $3.15 billion in the UK over the next few years to build its AI infrastructure. The Redmond, Washington-based giant's newly established consumer AI division also has a headquarters in London.FirstAn international center led by former Lection and DeepMind scientist Jordan Hoffmann.
For CoreWeave, a company spokesperson said its new headquarters will be near Brick Lane in East London, and the company will recruit about 30 employees, covering positions such as software engineering, support engineering, operations, finance and marketing.
Similar to the general case with cloud computing, building localized infrastructure also means lower latency and higher performance applications for companies in the region. Given that CoreWeave plans to open two data centers in the UK before the end of the year, it’s safe to say that the company was likely already moving forward with those plans before today’s announcement.
This means that by the end of 2024, CoreWeave will operate data centers around the world, although the company does not disclose how many data centers it has today. By the end of 2023, it has 14 data centers, all in the United States.
“We are seeing an all-time high in demand for AI infrastructure, and London is a key AI hub where we are investing,” said Mike Interlatte, CEO and co-founder of CoreWeave, in a statement. “Expanding our physical space in the UK is an important milestone in the next phase of CoreWeave’s growth.