CoreWeave has filed to go public on the Nasdaq under the ticker. The company reported a 700% increase in revenue in 2024 but recorded a net loss of over $860 million. Microsoft accounted for nearly two-thirds of CoreWeave’s revenue, holding over $15 billion in unfulfilled contracts. The company was founded in 2017 as Atlantic Crypto and shifted from cryptocurrency mining to GPU cloud services for AI and graphics rendering. The firm operates data centers with over 250,000 Nvidia GPUs. Morgan Stanley leads the IPO, with JPMorgan Chase and Goldman Sachs as underwriters.
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