09:07 AM EDT, 05/17/2024 (MT Newswires) -- Blackstone (BX)-managed funds led a funding round that raised $7.5 billion for CoreWeave, the artificial intelligence infrastructure startup said Friday.

The debt financing facility had strategic participation from Magnetar as co-lead investor and Coatue, CoreWeave said.

The startup said that participants in the financing also included Carlyle Group ( CG ) , CDPQ, DigitalBridge Credit, funds and accounts managed by BlackRock ( BLK ) , Eldridge Industries and Great Elm Capital ( GECC ) .

The new financing, which followed a $1.1 billion series C in May led by Coatue, will be used to further develop its fleet of high-performance compute, CoreWeave said.

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