Main to remember
- Coreweave could become public next week in what should be one of the biggest IPOs in recent years.
- The Cloud Computing company is supported by Nvidia and has Microsoft among its customers.
- Coreweave offers its customers access to data centers equipped with highly coveted Nvidia chips for the training of AI models.
Coreweave, a cloud computing company supported by Nvidia (Nvda), could become a public next week in what should be one of the biggest IPOs in recent years.
The company is expected to target $ 4 billion in funds raised thanks to the IPO, which would appreciate the company around 35 billion dollars, according to the IPO Renaissance Capital research company. This would make it one of the biggest public offers in recent years.
Coreweave earns money by providing customers with access to data centers, which are used to develop artificial intelligence Models. The company’s data centers are equipped with highly coveted NVIDIA chips, which holds a participation of around 5% in Coreweave.
The biggest Corewave customer is Microsoft (Msft), which represented 62% of its $ 1.9 billion in revenues last year, according to his prospectus. His dependence on Microsoft was a source of concern for potential investors, especially after a Financial time The report this week said that Microsoft “has moved away from some of its commitments” with the company.
Coreweave challenged the report, saying Investigation “There has been no cancellation of contract or moving away from commitments. Any contrary complaint is false and misleading.”
Coreweave declared a net loss of $ 863 million on a turnover of $ 1.9 billion in 2024, which the company allocated to investments in its company.