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AI cloud infrastructure company saw its valuation hit $7 billion after a minority investment of $642 million led by

The new valuation — — is a significant jump from late May, when the company extended its Series B at a $2 billion valuation.

The secondary offering also included participation from , , , , , , and others.

“Our explosive growth trajectory has been recognized by top-tier institutional investors, and this transaction highlights the differentiation our market-leading performance, significant technology advantage, and strong customer adoption is receiving in the market,” said co-founder and CEO in a .

Big money

The massive jump in valuation — and high interest from big institutional investors — seems to indicate that while some predict a cooling off in AI investment, many are still willing to write big checks at big valuations.

In another reported offering of existing shares, and others are still moving forward with a tender offer to buy employee shares at a price that values the company at $85 billion.

The big-money transaction is just the latest for CoreWeave.

In April, CoreWeave raised $221 million led by . Just weeks later, CoreWeave in a Series B extension.

Then in August, CoreWeave raised a $2.3 billion debt facility led by Magnetar and and collateralized by chips from — also an investor in the company.

Founded in 2017, the company has raised a total of nearly $3 billion in debt and equity.

The specialized cloud provider — which actually started out as an mining operation — offers flexible infrastructure with better processing needed to train large language models for AI.

Related reading:

• Specialized Cloud Provider CoreWeave Rides AI Wave To Another $200M Round
• Specialized Cloud Provider CoreWeave Locks Down $221M Investment

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