Artificial intelligence startup CoreWeave, which is backed by Nvidia, plans to price its shares between $47 and $55 each for its upcoming initial public offering (IPO), according to sources familiar with the matter.
The pricing range, which has not been previously disclosed, would value the offering between $2.3 billion and $2.7 billion.
In its IPO filing earlier in March, CoreWeave reported a sharp increase in revenue to $1.92 billion in 2024, up from $228.9 million the previous year. However, the company’s net loss also widened to $863.4 million from $593.7 million in 2023. Approximately two-thirds of its revenue came from Microsoft.
Morgan Stanley, JPMorgan Chase, and Goldman Sachs are leading the IPO, with shares set to trade on the Nasdaq under the ticker symbol CRWV.
About CoreWeave
CoreWeave is a cloud purpose-built for scaling, supporting, and accelerating GenAI. It is a comprehensive platform and strategic partner designed to tackle today—and tomorrow’s—challenges of deploying AI at scale.
The company manages the complexities of AI growth to make supercomputing accessible and push the limits of what’s possible.