Coreweave Files For IPO With $40 Billion Fundraising Goal

According to PANews, CoreWeave, an AI company closely associated with Bitcoin mining firm Core Scientific, has filed for an initial public offering (IPO) aiming to raise $4 billion, with a valuation exceeding $35 billion. The company's prospectus reveals that in 2024, it generated $1.9 billion in revenue but incurred a net loss of $863 million due to investments in AI. CoreWeave's total accumulated losses have reached $1.5 billion. The company has enlisted Core Scientific to assist in building a 500-megawatt (MW) AI infrastructure. Previously, when CoreWeave was engaged in Ethereum mining, Core Scientific was its largest GPU supplier.