CoreWeave's $4B IPO Bet on AI and Cloud Computing

Cloud computing provider CoreWeave has filed for an initial public offering (IPO), aiming to raise $4 billion. The company, which was founded in 2017, initially provided infrastructure for Ethereum mining. As cryptocurrency prices declined, CoreWeave acquired more GPUs and shifted its focus to graphics rendering and artificial intelligence (AI).

The company had $1.9 billion in revenue in 2024, but due to its investments in the AI field, it incurred a net loss of $863 million. Currently, CoreWeave has accumulated losses of $1.5 billion. Despite these losses, the company is valued at over $35 billion following its IPO application.

CoreWeave's shift towards AI and graphics rendering has positioned it as a key player in the cloud computing industry. The company's IPO is expected to provide it with the capital needed to continue investing in these areas and expand its operations. As the demand for cloud computing services continues to grow, CoreWeave's IPO could be a significant milestone in the company's history.