CoreWeave plans to raise up to $2.70 billion in IPO
CoreWeave plans to sell shares at $47 to $55 per share, raising up to $2.70 billion, and will list on Nasdaq under the symbol CRWV, according to its IPO prospectus. The company specializes in Nvidia cloud computing processors, and customers include Meta and Microsoft. Revenue growth in 2024 will exceed 700% to $1.92 billion, with Microsoft contributing 62%. By the end of 2024, the company will deploy more than 250,000 Nvidia GPUs in 32 data centers. The IPO is led by Morgan Stanley and underwritten by JPMorgan Chase and Goldman Sachs.