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Cisco Systems plans to invest in CoreWeave, a cloud services provider, at a valuation of $23 billion. This investment comes amid a surge in demand for cloud computing services driven by the rise of artificial intelligence applications. CoreWeave, backed by Nvidia, collaborates with AI startups and cloud providers to create infrastructure for AI workloads.
CoreWeave's CEO, Michael Intrator, has proposed a secondary transaction allowing existing shareholders to sell up to $500 million in shares. The growing interest in AI technologies, such as ChatGPT, has prompted significant investments from major tech firms to enhance their infrastructure. Cisco's involvement highlights the increasing intersection of telecommunications and AI-driven cloud services.
• Cisco's investment reflects growing demand for AI-driven cloud services.
• CoreWeave partners with AI startups to enhance cloud computing capabilities.
This technology is crucial for supporting AI applications and workloads.
The rise of AI applications has significantly increased the demand for cloud services.
CoreWeave focuses on building infrastructure to support these demanding workloads.
Cisco's investment in CoreWeave underscores its commitment to expanding its role in the AI and cloud computing sectors.
CoreWeave's partnerships with AI startups position it as a key player in the growing AI cloud market.
Nvidia's backing of CoreWeave highlights the importance of powerful computing resources for AI applications.
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