CoreWeave chief Michael Intrator tests market faith in AI hype

CoreWeave chief executive Michael Intrator and executives at private equity giant Blackstone got together in the summer of 2023 in a WeWork in Brooklyn to hash out the terms of a large and unusual loan.

That first deal would lead to one of the largest private financings in US corporate history, Blackstone’s biggest single loan commitment and transformed a seven-year-old start-up into an artificial intelligence infrastructure behemoth.

On Friday, CoreWeave became the largest tech company to…