CoreWeave, a cloud-computing provider specializing in AI workloads, has launched its initial public offering (IPO) aiming to raise $2.7 billion.
The Nvidia-backed company plans to offer 49 million shares priced between $47 and $55 each listed on the Nasdaq Global Select Market under the ticker symbol “CRWV.”
The listing could value CoreWeave at as much as $32 billion, according to Bloomberg.
CoreWeave has established itself as a key player in AI infrastructure by leveraging cutting-edge Nvidia GPUs across its 32 data centers worldwide.
The firm reported revenues of $1.9 billion for 2024 but incurred a net loss of $863 million. Notably, 77% of its revenue came from just two clients, with Microsoft accounting for nearly two-thirds of total sales.