CoreWeave (CRWV) shares rose up by up to 9% on Monday morning after the company announced it would launch a venture capital arm focused on early-stage artificial intelligence startups.
Stocks were 4.5% higher as midday hours in the US approached.
A new fund called CoreWeave Ventures focuses on investing in building AI tools, infrastructure or applications. The company did not reveal how much capital will be committed, but framed the efforts as an extension of its broader mission to support high-performance computing for machine learning and generation AI.
“Weave has a great opportunity to help you get started,” said Brannin McBee, Co-Founder and Chief Development Officer of CoreWeave.
CoreWeave specializes in cloud computing optimized for AI workloads, providing access to NVIDIA GPUs and high-speed storage for clients ranging from large companies to labs. It was published earlier this year at $40 per share and has returned since surged to a high of $187 in June.
The launch of CoreWeave Ventures is a busy time for AI-focused cloud infrastructure companies. On Monday, Nebius, another player in the “Neoclaw” space, signed a five-year, $19.4 billion Microsoft contract to supply computing power. The announcement has given rise to stocks in several AI and data centers, adding momentum to the sector.
CoreWeave is in the process of acquiring Bitcoin Miner Core Scientific (CORZ) in a $9 billion all-stock transaction. The merger announced in July will still be subject to shareholder and regulatory approval.
For AI startups, the arrival of another professional investor can provide an alternative to generalist VC companies or hyperscalar linked capital. And for CoreWeave, it's an opportunity to wager on an ecosystem that will help power, and perhaps you'll have early access to your next breakthrough.
