CoreWeave has officially entered the public markets, raising $1.5 billion in its IPO and landing a valuation near $23 billion, Bloomberg reported. The AI-centric cloud company priced its shares at $40, offering 37.5 million—down from an earlier plan to sell 49 million shares at a higher $47–$55 range.
The revised IPO reflects shifting investor sentiment and broader market softness, which forced the firm to scale back from its original $4 billion raise at a $35 billion valuation. Despite strong topline revenue of $1.9 billion last year, CoreWeave reported a net loss approaching $900 million.
Nvidia, already a key investor, is anchoring the IPO with a $250 million order, Bloomberg noted, citing sources familiar with the matter. The move signals continued confidence in CoreWeave’s role in the evolving AI infrastructure ecosystem.
CoreWeave also maintains a close partnership with bitcoin mining giant CoreScientific, with the two companies collaborating on major AI expansion initiatives.
Meanwhile, Nvidia’s own stock is down 12% year-to-date, part of a broader cool-down across the AI sector, according to The Information.
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