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Investing.com -- CoreWeave, Inc. (NASDAQ:CRWV) stock gained 3% during Tuesday’s session after the AI cloud infrastructure provider announced plans to expand into the U.S. federal market.
The company, which brands itself as "The Essential Cloud for AI," intends to pursue FedRAMP and other authorizations to offer its high-performance AI cloud services to U.S. government agencies and the Defense Industrial Base. CoreWeave ’s federal division will focus on delivering secure, compliant cloud infrastructure as government agencies accelerate their adoption of AI capabilities.
"America’s economic competitiveness and national security rely on the continued advancement of secure, high-performance AI infrastructure," said Michael Intrator, Co-founder, Chairman, and CEO of CoreWeave. "We will bring our platform to the federal market in alignment with the government’s rigorous standards to help agencies accelerate innovation and strengthen mission performance."
The company plans to adapt its AI cloud platform to meet U.S. government cybersecurity standards and compliance requirements. CoreWeave will leverage experience gained through its acquisition of Weights & Biases (W&B) to build on existing public sector capabilities.
CoreWeave has recently expanded its Washington, DC presence and made several government-focused leadership appointments. The company collaborates with NVIDIA to integrate advanced computing and networking technologies across its platform, including NVIDIA AI infrastructure and Quantum InfiniBand networking.
The announcement was made during CoreWeave’s participation in the NVIDIA GTC GPU Technology Conference in Washington, DC.
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