CoreWeave benefited from rising demand for AI computing power after OpenAI released ChatGPT in late 2022 and brought generative AI to a wide audience. Its large inventory of graphics processing units (GPUs) and relationship with NVIDIA helped it serve this demand. The company attracted customers including Microsoft, OpenAI, Meta Platforms, and NVIDIA. Its data center operations grew from three centers with more than 17,000 GPUs at the start of 2023 to dozens of data centers holding hundreds of thousands of GPUs by the end of 2024.
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