CoreWeave Files for IPO, Aims to Raise $4B Amid AI Boom
CoreWeave, a cloud computing firm specializing in AI infrastructure, has officially filed for an initial public offering (IPO), with plans to raise $4 billion at a valuation exceeding $35 billion.
The company’s filing revealed that it generated $1.9 billion in revenue in 2024 but recorded a net loss of $863 million as it aggressively expanded its AI capabilities. CoreWeave also reported an accumulated deficit of $1.5 billion due to its continued investment in high-performance computing.
To support its AI infrastructure growth, CoreWeave is collaborating with bitcoin miner Core Scientific (CORZ) to develop 500 megawatts (MW) of AI-optimized data center capacity. Core Scientific previously served as CoreWeave’s largest GPU supplier when it focused on Ethereum mining.
The IPO filing comes as artificial intelligence adoption skyrockets across industries. CoreWeave cited a report from IDC projecting that AI will contribute $20 trillion to the global economy—around 3.5% of global GDP—by 2030.
Following the announcement, Core Scientific (CORZ) shares rose 3.5% in post-market trading.
