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NEW YORK - CoreWeave (NASDAQ:CRWV), a rapidly growing AI infrastructure company with a market capitalization of $72.85 billion, has become the first AI cloud provider to deploy NVIDIA GB300 NVL72 systems for customers, with plans to expand deployments globally, the company announced Thursday. The stock has shown remarkable momentum, delivering a 279% return over the past six months.
The new NVIDIA systems deliver up to 10x improvement in user responsiveness, 5x better throughput per watt compared to the previous Hopper architecture, and 50x increased output for reasoning model inference, according to the company. According to InvestingPro data, CoreWeave maintains a robust 74.3% gross profit margin, though the company currently faces profitability challenges with negative earnings per share.
"CoreWeave is constantly working to push the boundaries of AI development further, deploying the bleeding-edge cloud capabilities required to train the next generation of AI models," said Peter Salanki, Co-Founder and Chief Technology Officer at CoreWeave.
The deployment was accomplished through collaboration with Dell, Switch, and Vertiv. CoreWeave has integrated the systems with its cloud-native software stack, including CoreWeave Kubernetes Service and Slurm on Kubernetes.
This deployment adds to CoreWeave’s existing Blackwell fleet, which includes NVIDIA HGX B200 and NVIDIA GB200 NVL72 systems. Last year, the company was among the first to offer NVIDIA H200 GPUs and the first to make NVIDIA GB200 NVL72 systems generally available.
In June, CoreWeave collaborated with NVIDIA and IBM to submit what they claim is the largest-ever MLPerf Training v5.0 benchmark, using nearly 2,500 NVIDIA GB200 Grace Blackwell Superchips.
CoreWeave, which went public earlier this year and trades under the ticker CRWV, describes itself as "the AI Hyperscaler" with data centers across the US and Europe.
The information in this article is based on a company press release.
In other recent news, CoreWeave Inc. has announced the deployment of NVIDIA’s latest GB300 NVL72 AI platform, marking a significant advancement in AI infrastructure. This new platform, featuring NVIDIA Blackwell Ultra GPUs and enhanced memory and bandwidth capabilities, is expected to boost AI performance considerably. CoreWeave has optimized its cloud platform for this deployment, collaborating with Dell Technologies, Switch, and Vertiv. Additionally, CoreWeave is reportedly in discussions to acquire Core Scientific, a high-performance compute and Bitcoin mining provider, with a potential transaction value of approximately $5 billion. Barclays has maintained its Equalweight rating on CoreWeave following this news. In further developments, CoreWeave has launched three new AI cloud software products, enhancing its offerings post-acquisition of Weights & Biases. Despite these advancements, BofA Securities has downgraded CoreWeave from Buy to Neutral, citing valuation concerns after a 145% rally in its stock. Lastly, CoreWeave has sold its entire stake in Applied Digital Corp., leading to a decline in Applied Digital’s shares.
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