Latest news with #AIHyperscaler™
Associated Press
3 days ago
- Business
- Associated Press
CoreWeave Appoints Ernie Rogers to Strategic Leadership Role to Drive Next Phase of Financing Growth
LIVINGSTON, N.J., June 4, 2025 /PRNewswire/ -- CoreWeave, Inc. (Nasdaq: CRWV), the AI Hyperscaler™, today announced the appointment of Ernie Rogers as Chief Architect of Strategic Financing. Rogers brings decades of expertise in financial strategy and operational leadership. Rogers most recently served as Magnetar's Chief Operating Officer ('COO'), where he led the firm's operations and finances, including managing a diverse array of both back-office and select front-office teams. His leadership helped foster innovation and efficiency across Magnetar's platform. 'Ernie has been an invaluable partner since the beginning of CoreWeave, and we're thrilled to welcome him to the team,' said Michael Intrator, Co-Founder and Chief Executive Officer at CoreWeave. 'His deep understanding of our business makes him uniquely qualified to help drive our next phase of growth.' 'I've had the privilege to be part of the CoreWeave journey early on as an investment partner and as an operational advisor and board member,' said Ernie Rogers, Chief Architect, Strategic Financing at CoreWeave. 'There is no other player in the space like this company. I'm excited to keep working alongside the team to reach new heights.' 'We're proud to see Ernie take on this critical role at CoreWeave,' said David Snyderman, Managing Partner of Magnetar. 'He's played a meaningful part in our strategic approach to investing in transformational technology platforms, and his transition supports our strong confidence in CoreWeave's direction and leadership.' About CoreWeave CoreWeave, the AI Hyperscaler™, delivers a cloud platform of cutting-edge software powering the next wave of AI. The company's technology provides enterprises and leading AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the US and Europe. CoreWeave was ranked as one of the TIME100 most influential companies and featured on Forbes Cloud 100 ranking in 2024. Learn more at View original content to download multimedia: SOURCE CoreWeave
Yahoo
3 days ago
- Business
- Yahoo
CoreWeave Appoints Ernie Rogers to Strategic Leadership Role to Drive Next Phase of Financing Growth
LIVINGSTON, N.J., June 4, 2025 /PRNewswire/ -- CoreWeave, Inc. (Nasdaq: CRWV), the AI Hyperscaler™, today announced the appointment of Ernie Rogers as Chief Architect of Strategic Financing. Rogers brings decades of expertise in financial strategy and operational leadership. Rogers most recently served as Magnetar's Chief Operating Officer ("COO"), where he led the firm's operations and finances, including managing a diverse array of both back-office and select front-office teams. His leadership helped foster innovation and efficiency across Magnetar's platform. "Ernie has been an invaluable partner since the beginning of CoreWeave, and we're thrilled to welcome him to the team," said Michael Intrator, Co-Founder and Chief Executive Officer at CoreWeave. "His deep understanding of our business makes him uniquely qualified to help drive our next phase of growth." "I've had the privilege to be part of the CoreWeave journey early on as an investment partner and as an operational advisor and board member," said Ernie Rogers, Chief Architect, Strategic Financing at CoreWeave. "There is no other player in the space like this company. I'm excited to keep working alongside the team to reach new heights." "We're proud to see Ernie take on this critical role at CoreWeave," said David Snyderman, Managing Partner of Magnetar. "He's played a meaningful part in our strategic approach to investing in transformational technology platforms, and his transition supports our strong confidence in CoreWeave's direction and leadership." About CoreWeave CoreWeave, the AI Hyperscaler™, delivers a cloud platform of cutting-edge software powering the next wave of AI. The company's technology provides enterprises and leading AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the US and Europe. CoreWeave was ranked as one of the TIME100 most influential companies and featured on Forbes Cloud 100 ranking in 2024. Learn more at View original content to download multimedia: SOURCE CoreWeave Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Applied Digital Announces 250MW AI Data Center Lease With CoreWeave in North Dakota
DALLAS, June 02, 2025 (GLOBE NEWSWIRE) -- Applied Digital Corporation (Nasdaq: APLD), a designer, builder and operator of next-generation digital infrastructure for HPC applications, has entered into two approximately 15-year lease agreements with CoreWeave, the AI Hyperscaler™. Under the lease agreements, Applied Digital will deliver 250 megawatts (MW) of critical IT load to host CoreWeave's artificial intelligence (AI) and high-performance computing (HPC) infrastructure at its Ellendale, North Dakota data center campus. Over the approximately 15-year term, Applied Digital anticipates generating approximately $7 billion in total revenue from the leases. Pursuant to the lease agreements, CoreWeave also retains the option to access an additional 150 MW of critical IT load at Ellendale, positioning the campus as a scalable hub for expanding AI and HPC workloads. 'We believe these leases solidify Applied Digital's position as an emerging provider of infrastructure critical to the next generation of artificial intelligence and high-performance computing,' said Wes Cummins, Chairman and CEO of Applied Digital. 'As demand for AI accelerates exponentially, we believe that we are uniquely positioned to deliver substantial returns while supporting the evolving and dynamic needs of these rapidly evolving sectors. We view CoreWeave as an ideal partner as we accelerate our growth and innovation.' Applied Digital's Ellendale campus is believed to be one of the most ambitious data center developments currently underway in North America. Intended to be purpose-built for next-generation workloads, the facility combines large-scale power capacity with rapid deployment capabilities – both critical for AI and HPC clients. The Ellendale campus was planned to be engineered for high-density compute and designed to scale up to 1 gigawatt over time. The two approximately 15-year lease agreements mark a foundational step in unlocking the campus's full potential. 'We believe Ellendale is more than a development project — it's a launchpad for the future of AI infrastructure,' added Cummins. 'We intend for this platform to put us in a strong position to support early demand while continuing to grow alongside our customers. Through these newly signed long-term leases with CoreWeave, we are taking a step forward in our strategic expansion into advanced compute infrastructure.' Applied Digital designed Ellendale for the speed and efficiency of deployment, prime location, AI innovative design, and access to abundant, low-cost energy. The energy-efficient climate is intended to further enable Applied Digital to meet the rapid capacity demands, positioning both the region and the company as emerging leaders in the AI data center ecosystem. Applied Digital expects the first 100 MW data center for CoreWeave to be ready for service in the fourth quarter of calendar 2025. The second building, which is expected to house a 150 MW data center, is currently under construction and is expected to be ready for service in the middle of 2026. Additionally, CoreWeave holds an option for the third 150 MW building, which is currently in the planning stages, anticipated to be ready for service in 2027. Applied Digital's Ellendale campus is designed to host 400 MW of critical IT load. Ellendale has 1+ gigawatts of power capacity currently under various stages of load study, allowing the campus to expand its power capacity to support additional AI and HPC data center infrastructure development. About Applied DigitalApplied Digital (Nasdaq: APLD) develops, builds and operates next-generation data centers and infrastructure. Different by design, the Company's purpose-built facilities are engineered to unleash the power of accelerated compute and deliver secure, scalable and sustainable digital hosting, enabling CSaaS and GPU-as-a-Service solutions. Backed by deep hyperscale expertise and a robust pipeline of available power, Applied Digital accommodates AI Factories and beyond to support AI/ML, blockchain and high-performance computing (HPC) workloads. CAUTION ABOUT FORWARD-LOOKING STATEMENTSThis press release contains 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives and future financing plans. These statements use words, and variations of words, such as 'will,' 'continue,' 'build,' 'future,' 'increase,' 'drive,' 'believe,' 'look,' 'ahead,' 'confident,' 'deliver,' 'outlook,' 'expect,' 'project' and 'predict.' Other examples of forward-looking statements may include, but are not limited to, (i) statements that reflect perspectives and expectations regarding the lease agreements and campus development, (ii) statements about the HPC industry, (iii) statements of Company plans and objectives, including our evolving business model, or estimates or predictions of actions by suppliers, (iv) statements of future economic performance, and (v) statements of assumptions underlying other statements and statements about the Company or its business. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the Company's expectations and projections. These risks, uncertainties, and other factors include: our ability to complete construction of the Ellendale HPC data centers; changes to AI and HPC infrastructure needs and their impact on future plans; risks associated with the leasing business, including those associated with counterparties; costs related to the HPC operations and strategy; our ability to timely deliver any services required in connection with completion of installation under the lease agreements; our ability to raise additional capital to fund ongoing and future data center construction and operations; our ability to obtain financing of the lease agreements on acceptable financing terms, or at all; our dependence on principal customers, including our ability to execute and perform our obligations under our leases with key customers, including without limitation, the lease agreements; our ability to timely and successfully build hosting facilities with the appropriate contractual margins and efficiencies; power or other supply disruptions and equipment failures; the inability to comply with regulations, developments and changes in regulations; cash flow and access to capital; availability of financing to continue to grow our business; decline in demand for our products and services; maintenance of third party relationships; and conditions in the debt and equity capital markets. A further list and description of these risks, uncertainties and other factors can be found in the company's most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, including in the sections captioned 'Forward-Looking Statements' and 'Risk Factors,' and in the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at on the Company's website ( under 'Investors,' or on request from the Company. Information in this release is as of the dates and time periods indicated herein, and the Company does not undertake to update any of the information contained in these materials, except as required by law. Media ContactsBuffy Harakidas and Jo AlbersJSA (Jaymie Scotto & Associates)jsa_applied@ Investor Relations ContactsMatt Glover or Ralf EsperGateway Group, Inc.(949) 574-3860APLD@ A photo accompanying this announcement is available at
Yahoo
14-05-2025
- Business
- Yahoo
CoreWeave Expands Credit Facility to $1.5 Billion to Support Continued Growth
The expansion includes an $850 million increase to the revolving credit facility LIVINGSTON, N.J., May 6, 2025 /PRNewswire/ -- CoreWeave, Inc. (Nasdaq: CRWV), the AI Hyperscaler™, today announced that it entered into an agreement with JPMorgan Chase Bank, Goldman Sachs, Morgan Stanley and MUFG, with participation from Credit Agricole, Deutsche Bank, Societe Generale, Sumitomo Mitsui Banking Corporation and Wells Fargo, to, among other things, increase the company's revolving credit facility from $650 million to $1.5 billion and extend the maturity date. The proceeds from this agreement will enhance the company's financial flexibility and enable it to continue growing its leading AI cloud infrastructure platform globally. CoreWeave previously closed a $650 million revolving credit facility in October 2024. CoreWeave is the leading AI cloud infrastructure provider and is consistently one of the first-to-market with the most advanced hardware and software solutions. Last month, NVIDIA and CoreWeave announced that CoreWeave is among the first AI cloud providers offering GB200 Grace Blackwell Superchips at scale, after CoreWeave reported a record-breaking MLPerf inference benchmark with the GB200 system. The company is also the only hyperscaler to achieve the highest Platinum ranking from SemiAnalysis, an independent AI industry research and analysis group. About CoreWeaveCoreWeave, the AI Hyperscaler™, delivers a cloud platform of cutting-edge software powering the next wave of AI. The company's technology provides enterprises and leading AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the US and Europe. CoreWeave was ranked as one of the TIME100 most influential companies and featured on Forbes Cloud 100 ranking in 2024. Learn more at Forward-Looking StatementsThis press release contains forward-looking statements based on management's expectations, assumptions, and projections using information available at the time the statements were made. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions. It is not possible for CoreWeave's management to predict all risks, nor can CoreWeave assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements CoreWeave may make. In light of these risks, uncertainties, and assumptions, CoreWeave's actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Further information on risks that could cause actual results to differ materially from forecasted results are, or will be included, in the filings CoreWeave makes with the Securities and Exchange Commission from time to time, including the Prospectus dated March 27, 2025, filed on March 31, 2025 pursuant to Rule 424(b) under the Securities Act of 1933, as amended, relating to the Registration Statement on Form S-1, as amended (File No. 333-285512). Except as required by law, CoreWeave assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. View original content: SOURCE CoreWeave Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-03-2025
- Business
- Yahoo
CoreWeave Announces Pricing of Initial Public Offering
LIVINGSTON, N.J., March 27, 2025 /PRNewswire/ -- CoreWeave, Inc. ("CoreWeave"), the AI Hyperscaler™, announced today the pricing of its initial public offering of 37,500,000 shares of its Class A common stock at a public offering price of $40.00 per share. The offering consists of 36,590,000 shares of Class A common stock to be sold by CoreWeave and 910,000 shares of Class A common stock to be sold by existing stockholders (the "Selling Stockholders"). CoreWeave will not receive any proceeds from the sale of shares of Class A common stock by the Selling Stockholders. The shares are expected to begin trading on the Nasdaq Global Select Market on March 28, 2025 under the ticker symbol "CRWV." The offering is expected to close on March 31, 2025, subject to the satisfaction of customary closing conditions. In addition, CoreWeave has granted the underwriters a 30-day option to purchase up to an additional 5,625,000 shares of Class A common stock to cover over-allotments at the initial public offering price, less underwriting discounts and commissions. Morgan Stanley, J.P. Morgan, and Goldman Sachs & Co. LLC are acting as joint lead bookrunners for the offering. Barclays, Citigroup, MUFG, Deutsche Bank Securities, Jefferies, Mizuho, Wells Fargo Securities, and BofA Securities are acting as joint bookrunners for the offering. Guggenheim Securities, M. Klein & Company, Macquarie Capital, Needham & Company, Santander, Stifel, and Galaxy Digital Partners LLC are acting as co-managers for the offering. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 27, 2025. The offering is being made only by means of a prospectus. A copy of the final prospectus may be obtained, when available, from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or email: prospectus-eq_fi@ or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282 or by emailing prospectus-ny@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About CoreWeave, Inc. CoreWeave, the AI Hyperscaler™, delivers a cloud platform of cutting-edge software powering the next wave of AI. The company's technology provides enterprises and leading AI labs with cloud solutions for accelerated computing. Since 2017, CoreWeave has operated a growing footprint of data centers across the US and Europe. Media Contact: Colleen Hsia, press@ View original content: SOURCE CoreWeave Sign in to access your portfolio
