CoreWeave Turns $50 Million Loan Into $12.5 Billion AI Jackpot For Billionaire Investor
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Alec Litowitz's Magnetar Financial has transformed a $50 million loan into a $12.5 billion stake in CoreWeave Inc. (NASDAQ:CRWV), representing 72% of its portfolio and a 145% quarterly gain. Initially investing through structured loans secured by Nvidia GPUs, Magnetar's position grew significantly after CoreWeave's public offering. As of September 30, Magnetar held 91.4 million shares, achieving a 247% gain despite trimming its position. This venture-like investment in AI infrastructure is drawing attention on Wall Street, showcasing the importance of timing in finance.
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