CoreWeave Files for IPO to Raise $4 Billion with $1.9B Revenue
CoreWeave, in partnership with Core Scientific (CORZ), filed for an IPO aiming to raise $4 billion and achieve a valuation over $35 billion. In 2024, the company reported $1.9 billion in revenue but incurred a net loss of $863 million due to AI investments, contributing to an accumulated deficit of $1.5 billion.
Key details include:
- 500 MW of infrastructure for AI-related purposes being built with Core Scientific's support
- AI industry projected to generate $20 trillion global economic impact by 2030, or 3.5% of global GDP
- CORZ shares increased by 3.5% in post-market trading