CoreWeave, a specialized cloud provider built for large-scale GPU-accelerated workloads, today announced it has secured $221 million in Series B funding. The round was led by Magnetar Capital, a leading alternative asset manager, with contributions from NVIDIA, and rounded out by Nat Friedman and Daniel Gross.

Founded in 2017, CoreWeave is a specialized cloud provider, delivering a massive scale of GPU compute resources on top of the industry's fastest and most flexible infrastructure. CoreWeave builds cloud solutions for compute-intensive use cases - VFX and rendering, machine learning and AI, batch processing and pixel streaming - that are up to 35 times faster and 80% less expensive than the large, generalized public clouds.