Ranking among the hottest initial public offerings, CoreWeave (NASDAQ:CRWV) — a cloud-computing company specializing in providing processing infrastructure to artificial intelligence developers and enterprises — once again stirred up Wall Street. This time, the company announced the launching of a venture fund to invest in AI startups.
Basically, if these startups succeed, CoreWeave becomes their default infrastructure. As such, the company wouldn’t just be a standard competitor to hyperscalers — which serve broad enterprise needs — but one specifically geared toward AI and GPU-heavy workloads.
This post originally appeared at Money Morning.