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CoreWeave Raises $7.5 billion Debt from Blackstone, Others

CoreWeave Raises $7.5 billion Debt from Blackstone, Others
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CoreWeave Raises $7.5 billion Debt from Blackstone, Others

CoreWeave Raises $7.5 billion Debt from Blackstone, Others

Specialized cloud services provider CoreWeave is raising $7.5 billion in debt from financiers led by Blackstone and Magnetar to expand its infrastructure to meet rising artificial intelligence (AI) workloads, it said on Friday.

The deal is one of the largest debt financing rounds for a startup and adds firepower to CoreWeave's balance sheet as it looks to expand its cloud computing services to more customers, Reuters reported.

The Nvidia-backed company has raised more than $12 billion in equity and debt investments over the past 12 months, including a $1.1 billion series C investment led by private equity firm Coatue earlier this month.

"The caliber of investors in this large debt financing round is a powerful testament to ... the insatiable market appetite for AI infrastructure," CEO and co-founder Michael Intrator said in a statement.

Coatue, Carlyle, CDPQ, DigitalBridge Credit, funds managed by BlackRock, Eldridge Industries and Great Elm Capital Corp were also part of CoreWeave's latest debt raise.

CoreWeave has seen a boost from businesses rapidly adopting generative AI technology. It has partnerships with AI startups and competing cloud providers to build clusters to power AI workloads.

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SDAIA, KAUST Launch MiniGPT-Med Model to Help Doctors Diagnose Medical Radiology through AI

SDAIA, KAUST Launch MiniGPT-Med Model to Help Doctors Diagnose Medical Radiology through AI
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SDAIA, KAUST Launch MiniGPT-Med Model to Help Doctors Diagnose Medical Radiology through AI

SDAIA, KAUST Launch MiniGPT-Med Model to Help Doctors Diagnose Medical Radiology through AI

The Center of Excellence for Data Science and Artificial Intelligence at the Saudi Data and Artificial Intelligence Authority (SDAIA) and King Abdullah University of Science and Technology (KAUST) have introduced the MiniGPT-Med model.

The large multi-modal language model is designed to help doctors quickly and accurately diagnose medical radiology using artificial intelligence techniques.

Dr. Ahmed Alsinan, the Artificial Intelligence Advisor at the National Center for Artificial Intelligence and head of the scientific team at SDAIA, explained that the MiniGPT-Med model is capable of performing various tasks such as generating medical reports, answering medical visual questions, describing diseases, locating diseases, identifying diseases, and documenting medical descriptions based on entered medical images.

The model was trained on different medical images, including X-rays, CT scans, and MRIs.

The MiniGPT-Med model, derived from large-scale language models, is specifically tailored for medical applications and demonstrates significant versatility across different imaging methods, including X-rays, CT scans, and MRI. This enhances its utility in medical diagnosis.

Dr. Alsinan highlighted that the MiniGPT-Med model was developed collaboratively by artificial intelligence specialists from SDAIA and KAUST.

The model exhibits advanced performance in generating medical reports, achieving 19% higher efficiency than previous models. It serves as a general interface for radiology diagnosis, enhancing diagnostic efficiency across various medical imaging applications.