Nvidia-Backed CoreWeave Files for $35bn IPO, First Major 2025 US AI Offering
Nvidia-backed CoreWeave filed for a $35 billion IPO, marking the first major AI-related public offering in the US for 2025, following significant revenue growth in 2024.
Published on April 13, 2025
CoreWeave, a cloud computing firm backed by Nvidia, has filed for a $35 billion IPO, marking the first major AI-related public offering in the United States for 2025. The filing, made public in early March 2025, comes on the heels of a remarkable revenue surge in 2024, when the company’s revenue jumped from approximately $230 million in 2023 to nearly $1.9 billion in 2024.
Despite the impressive topline growth, CoreWeave also reported an increased net loss during the period, highlighting the firm's aggressive expansion and reinvestment strategy. With expectations to raise billions of dollars and achieve a valuation exceeding $35 billion, industry analysts are watching closely as the company positions itself at the forefront of AI-driven cloud infrastructure amid rapidly evolving market dynamics.