Exclusive-CoreWeave aims to raise more than $35 billion in 2025 US IPO, sources say Reuters
Written by Echo Wang
NEW YORK – Artificial intelligence cloud platform CoreWeave is aiming to raise more than $35 billion in its US initial public offering expected next year, people familiar with the matter told Reuters on Friday.
Roseland, New Jersey-based CoreWeave may aim to raise more than $3 billion in a share sale, which could be launched in the second quarter of 2025, sources said, cautioning that the company’s plans are subject to market conditions and subject to change.
The talks come at a time when investor interest in productive AI is on the rise. The AI boom, which has empowered chip makers such as Nvidia (NASDAQ: ), and other major technology industries, has turbocharged global demand for infrastructure such as data centers and high-powered servers.
Reuters reported in September that the data center operator Change (NYSE:) is exploring an IPO that could value the company at about $40 billion, including debt.
Funding for private AI and cloud startups in the US, Europe and Israel is rising after three years of decline, and is estimated to touch $79.2 billion by the end of this year, venture capital firm Accel said in October.
CoreWeave provides access to data centers and high-powered AI workload chips, primarily provided by Nvidia, one of the company’s biggest supporters. It competes with major cloud computing service providers such as tech giant Microsoft (NASDAQ:)’s Azure and Amazon (NASDAQ:)’s AWS.
CoreWeave declined to comment.
A broad wave of high-profile names is gearing up for potential listings next year, as the IPO market shows the first signs of thawing after several bouts of market volatility shut down major markets in the past two years.
CoreWeave recently completed a $650 million second share sale, valued at $23 billion. Investors led by Jane Street, Magnetar, Fidelity Management, and Macquarie Capital participated in the second stock deal.
Bloomberg reported in November that CoreWeave has tapped investment banks for its IPO preparations.
