CoreWeave, a leading cloud provider specializing in artificial intelligence, has successfully raised $1.5 billion through its initial public offering (IPO), Bloomberg reported. The offering values the New Jersey-based company at approximately $23 billion.
The firm priced 37.5 million shares at $40 each, a scaled-back version of its earlier plan to sell 49 million shares in the $47–$55 range. The IPO was downsized in response to softer market conditions and investor caution.
Initially, CoreWeave had targeted a $4 billion raise at a $35 billion valuation. Despite generating $1.9 billion in revenue last year, the company reported a net loss of nearly $900 million.
Nvidia, a major player in the AI industry and an investor in CoreWeave, is backing the IPO with a $250 million commitment, according to Bloomberg sources.
CoreWeave also maintains a strategic partnership with bitcoin miner CoreScientific, with the two companies working together on a multi-billion-dollar initiative to boost AI infrastructure.
Meanwhile, Nvidia’s stock has dipped 12% since the start of 2025, reflecting broader investor skepticism around AI-related equities, according to The Information.
