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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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Paris Olympics Expected to Face 4 Billion Cyber Incidents

A general view of the Olympic rings on the Eiffel Tower a day before the opening ceremony of the Paris 2024 Olympics, in Paris, France June 25, 2024. (Reuters)
A general view of the Olympic rings on the Eiffel Tower a day before the opening ceremony of the Paris 2024 Olympics, in Paris, France June 25, 2024. (Reuters)
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Paris Olympics Expected to Face 4 Billion Cyber Incidents

A general view of the Olympic rings on the Eiffel Tower a day before the opening ceremony of the Paris 2024 Olympics, in Paris, France June 25, 2024. (Reuters)
A general view of the Olympic rings on the Eiffel Tower a day before the opening ceremony of the Paris 2024 Olympics, in Paris, France June 25, 2024. (Reuters)

As the Paris 2024 Olympic Games approach, cybersecurity officials are bracing for over 4 billion cyber incidents. They are setting up a new centralized cybersecurity center for the Games, supported by advanced intelligence teams and artificial intelligence (AI) models.

Eric Greffier, the technical director for Paris 2024 at Cisco France, told Asharq Al-Awsat that the Tokyo 2020 Games saw around 450 million cyber incidents. He added that the number of incidents expected for Paris is at least ten times higher, requiring a more efficient response.

Greffier explained that a single cybersecurity center allows for better coordination and a faster response to incidents.

This approach has proven effective in other areas, such as banking and the NFL, where his company also handles cybersecurity, he added.

The Extended Detection and Response (XDR) system is central to the company’s security strategy.

Greffier described it as a “comprehensive dashboard” that gathers data from various sources, links events, and automates threat responses.

It offers a complete view of cybersecurity and helps manage threats proactively, he affirmed.

The system covers all aspects of the Olympic Games’ digital security, from network and cloud protection to application security and end-user safety.

In cybersecurity, AI is vital for managing large amounts of data and spotting potential threats. Greffier noted that with 4 billion expected incidents, filtering out irrelevant data is crucial.

The Olympic cybersecurity center uses AI and machine learning to automate threat responses, letting analysts focus on real issues, he explained.

One example is a network analytics tool that monitors traffic to find unusual patterns.

Greffier said that by creating models of normal behavior, the system can detect anomalies that might indicate a potential attack. While this might generate false alarms, it helps ensure that unusual activity is flagged for further review.