CoreWeave has filed for a proposed IPO in the US, targeting significant growth in the AI sector, reporting a remarkable revenue increase of 737% to $1.9 billion in 2024. While underwritten by major banks like Morgan Stanley and JPMorgan, the company faces risks, as 77% of its revenue is from two customers, primarily Microsoft. The IPO seeks a valuation of $35 billion, as CoreWeave expands its GPU-focused cloud services and datacenter presence in the US and Europe to meet AI demand.
CoreWeave, a GPU cloud provider, has filed for an IPO in the US, capitalizing on its substantial growth, with revenue soaring 737 percent to $1.9 billion.
The company's IPO aims to achieve a valuation of $35 billion, though it generates 77 percent of revenue from just two clients, predominantly Microsoft.
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