3 in Finance
2/26: CoreWeave (Roseland, NJ), a cloud-based infrastructure platform for AI workloads, is aiming for a $4B IPO at a target valuation of over $35B. Sources close to the company believe the transaction could take place within a week. (Link)
2/7: Converge Technology Solutions [TSE: CTS] (Toronto, CAD), a cloud migration and managed services provider, reached a definitive agreement to be acquired by Mainline Information Systems, via its financial sponsor H.I.G. Capital. The transaction will be an estimated $900mm take-private LBO. (Link)
2/7: X-energy (Rockville, MD), a small modular reactor (SMR) company, announced the close of its $700mm Series C-1 round led by Amazon’s Climate Pledge Fund as the data center sector looks toward SMRs as a potential low-carbon energy solution. Ares Management, Jane Street, Segra Capital Management and Emerson Collective participated in the round. (Link)
3 for Fun
On the heels of Grok 3’s release, see how xAI built its 200,000-GPU mega datacenter in just 122 days (Link)
Immersion cooling player Submer launches two new business units; first datacenter build will be in Barcelona (Link)
Amazon unveils first quantum computing chip, Ocelot, boosting AWS capabilities (Link)
