According to Bloomberg News, Cisco plans to invest $23 billion in CoreWeave

CoreWeave CEO Michael Intrator discussed a secondary transaction that would allow existing shareholders to sell up to $500 million worth of shares, Bloomberg News reported in September.

A boom in artificial intelligence applications such as ChatGPT and training of large language models have fueled demand for cloud computing services.

Major technology companies have invested heavily in strengthening infrastructure to support the development of AI.

Cisco did not immediately respond to a Reuters request for comment, while CoreWeave declined to comment.

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