CoreWeave's $4B IPO Bid: Cloud Giant Eyes $35B Valuation

Cloud computing provider CoreWeave is planning to raise $4 billion through a public listing on the U.S. stock market, according to sources familiar with the matter. The company aims for a valuation of over $35 billion and plans to file for the listing within a week.

CoreWeave initially started as a company that provided GPU computing resources for cryptocurrency mining. However, with the fluctuations in the cryptocurrency mining industry, such as Ethereum's shift from Proof of Work (PoW) to Proof of Stake (PoS) and declining mining rewards, CoreWeave gradually shifted its focus to high-performance cloud computing. The company now targets fields like Artificial Intelligence (AI), Machine Learning (ML), and Visual Effects (VFX).

The planned IPO comes at a time when the cloud computing industry is experiencing significant growth, driven by the increasing demand for AI and ML services. CoreWeave's shift in focus has positioned it well to capitalize on this growth, and the company's valuation reflects the market's confidence in its potential.

As CoreWeave prepares for its U.S. listing, investors will be watching closely to see how the company's shares perform in the public market. The success of the IPO could provide a significant boost to CoreWeave's growth and expansion plans, while also signaling the strength of the cloud computing industry as a whole.