Forbes August 6, 2024
When the AI frenzy created a chip shortage that left companies scrambling for computing power, a new type of cloud startups emerged to sell it to them.
In 2017, CoreWeave’s cofounders unknowingly hit the jackpot. They’d amassed racks upon racks of an Nvidia chip for which there would be insatiable demand five years later, as artificial intelligence went mainstream.
While Michael Intrator, Brian Venturo and Brannin McBee, commodity traders at the time, had initially purchased hundreds of GPUs for mining cryptocurrency, by 2019 they had pivoted the company’s infrastructure to provide outside computing power to companies that needed it — for 3D animation, for drug discovery efforts and increasingly, artificial intelligence.
So when the launch of OpenAI’s ChatGPT in late...
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