CoreWeave Set to Launch Landmark AI IPO on Nasdaq, Valuing Company Over $25 Billion

CoreWeave is poised to become the first pure-play AI company to launch an IPO on the Nasdaq. The IPO could value the company at over $25 billion, potentially increasing CEO Michael Intrator's net worth to $3.5 billion. CoreWeave plans to raise up to $2.7 billion, with a share price between $47 and $55. If underwriters exercise their full purchase options, the IPO could top $3 billion, making it one of the largest U.S. tech IPOs in at least four years. In 2024, CoreWeave's revenue soared over 700% to $1.92 billion, with over 60% coming from Microsoft. The company has contracts with Microsoft, Meta, IBM, and Cohere. CoreWeave ended 2024 with 32 data centers housing over 250,000 Nvidia GPUs. CoreWeave also acquired Weights & Biases for approximately $1 billion in stock.