Microsoft has partnered with CoreWeave to further strengthen its AI cloud computing development. The deal will allow Microsoft to use the cloud infrastructure of the Ethereum former miner.
CoreWeave is a cloud infrastructure and GPU-accelerated computing provider offering services focused on high-performance computing and data processing.
Their GPU cloud platform enables users to access and utilize their GPU resources for compute-intensive tasks, enabling faster processing times and improved performance. CoreWeave gained significant attention in the cryptocurrency mining community, contributing significant hash power to the network.
Microsoft Corporation is a multinational technology company founded by Bill Gates and Paul Allen in 1975. They develop, license, and support a wide range of software, hardware, and services, including the Windows operating system, and are expanding into the AI industry.
CoreWeave, which was formerly linked with the Ethereum blockchain before the migration from Proof of Work to Proof of Stake, took a bet to move out of the Web3 industry into cloud GPU computing. The firm stated that there was a gap in the product as older organizations were not willing to pursue the opportunity.
$200 million funding
Prior to the partnership with Microsoft, the cloud computing firm raised $200 million during a series B round with Magnetar Capital, and Nvidia as key partners. CoreWeave added that the round was extended to reach over $400 million which has brought the valuation of the company to more than $2 billion.
Microsoft has shown more interest in AI with a recent integration of Bing, and Edge, its browsers, with Chat GPT 4. During the Microsoft Build event this year, the computer firm announced the release of over 70 plugins to its ChatGPT Plus subscribers. This would allow users to expand the functionalities of the chatbot using third-party tools.
Another tool announced at the event was Microsoft Fabric, an analytics platform “that brings together all the data and analytics tools that organizations need.” It would work with Azure Data Factory, Azure Synapse Analytics, and Power BI.