Les Wexner, the billionaire founder of Victoria’s Secret, is known for his savvy business acumen and his ability to spot trends. But his recent success story goes beyond the realm of lingerie. Wexner has quietly amassed a significant stake in a burgeoning industry: cloud computing for cryptocurrencies.

Forbes reports that Wexner’s early investment in Atlantic Crypto, a company that later evolved into CoreWeave, has yielded a hefty $720 million return. The company provides specialized cloud computing infrastructure specifically designed for cryptocurrency mining and other blockchain applications.

Wexner’s investment story begins in 2018, when Atlantic Crypto was just a small startup. The company focused on providing high-performance computing power to cryptocurrency miners, a field that was rapidly gaining traction. Recognizing the potential of this emerging market, Wexner made a strategic move to become an early investor.

As Atlantic Crypto grew and evolved, it rebranded as CoreWeave, a more established and recognized name in the cloud computing space. The company now boasts a robust infrastructure capable of handling massive computing demands, attracting clients from diverse industries including finance, gaming, and artificial intelligence.

CoreWeave’s success can be attributed to its focus on providing cutting-edge hardware and software solutions tailored specifically for the needs of crypto miners and blockchain developers. This niche focus, coupled with Wexner’s early investment, propelled the company into a position of leadership in the industry.

Wexner’s $720 million stake in CoreWeave highlights his ability to identify and invest in emerging sectors with immense potential. This move further solidifies his reputation as a shrewd businessman, expanding his portfolio beyond the realm of fashion and into the exciting world of blockchain technology.

While the future of cryptocurrency remains uncertain, Wexner’s investment in CoreWeave demonstrates a strong belief in the industry’s growth potential. This move showcases his willingness to explore new avenues and embrace emerging technologies, a strategy that has clearly paid off.

It remains to be seen if this investment will be as fruitful as his ventures in the fashion industry, but one thing is certain: Wexner’s decision to invest in CoreWeave is a testament to his enduring entrepreneurial spirit and his ability to navigate the ever-evolving landscape of the tech world.