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Ahead of a possible $4 billion IPO, CoreWeave’s founders already pocketed $488 million

CoreWeave’s initial S-1 document for its upcoming IPO is full of surprises. Backed by Nvidia, CoreWeave runs an AI-specific cloud service from its network of 32 data centers that together have more than 250,000 Nvidia GPUs as of the end of 2024, according to the company. Since then, it has also added a number of […] © 2024 TechCrunch. All rights reserved. For personal use only.



CoreWeave is preparing for an IPO valued at $4 billion, supported by Nvidia and a network of 32 data centers equipped with over 250,000 GPUs. The company's three co-founders have already sold shares worth $488 million. Despite a revenue surge to $1.9 billion in 2024, CoreWeave incurred a $863 million loss and holds $7.9 billion in debt. The firm aims to use IPO proceeds to alleviate its debt burden.

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