The Nicola Wealth Private Debt team is participating in a new debt financing for CoreWeave, a specialized cloud-based provider of access to high-powered compute resources for customers that require high-performance computing applications, such as artificial intelligence and machine learning.
Financial terms were not disclosed, but Nicola Wealth said the proceeds of the financing are intended to purchase new GPUs to satisfy new customer contracts.
CoreWeave builds cloud solutions for compute-intensive use cases such as machine learning and AI, VFX and rendering, life sciences, the Metaverse, and real-time streaming, which are up to 35 times faster and 80 percent less expensive than the large, generalized public clouds.
The Nicola Private Debt Fund is an active private lender that provides first-lien, unitranche and subordinated debt financing primarily to profitable North American middle-market companies.