Cisco Nears Investment in CoreWeave at $23 Billion Valuation
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Cisco Systems Inc. agreed to invest in CoreWeave, a cloud-computing provider that’s among the hottest startups in artificial intelligence, as part of a transaction that values the company at $23 billion, according to people with knowledge of the matter.
CoreWeave, led by Chief Executive Officer Michael Intrator, has been discussing a so-called secondary transaction that allows existing shareholders such as employees to tender $400 million to $500 million of their holdings, Bloomberg reported last month. The deal is close to being completed, said the people, who asked not to be identified discussing private information.