Artificial intelligence startup CoreWeave is set to launch its initial public offering (IPO) this week, aiming to raise around $2.7 billion at the upper end of its price range. According to sources, CoreWeave plans to offer shares between $47 and $55 apiece.
The company, backed by Nvidia, provides access to data centers and high-powered chips for AI workloads, competing with cloud providers like Microsoft’s Azure and Amazon’s AWS. Its customers include major tech companies such as Meta, IBM, and Microsoft.
In its IPO filing earlier this month, CoreWeave reported revenue of $1.92 billion in 2024, a significant increase from $228.9 million the previous year. However, the company also saw its net loss widen to $863.4 million during the same period.
Morgan Stanley, JPMorgan Chase, and Goldman Sachs are among the lead underwriters for CoreWeave’s stock market flotation. The shares will trade on the Nasdaq under the symbol CRWV.
Source: https://www.reuters.com/technology/artificial-intelligence/coreweave-ask-47-55-per-share-ipo-sources-say-2025-03-19