CoreWeave sets IPO share price range at $47-$55

CoreWeave, an artificial intelligence startup supported by Nvidia, is preparing for its initial public offering (IPO). The company plans to sell shares at a price between $47 and $55 each. This pricing could raise between $2.3 billion and $2.7 billion for CoreWeave, according to sources familiar with the situation. The company may adjust its share price if investor interest is strong. CoreWeave focuses on providing access to data centers and powerful chips for AI tasks. It primarily competes with cloud services from big players like Microsoft and Amazon. Founded in 2017, CoreWeave serves major technology companies, including Meta and IBM. In its IPO filing, the company reported revenues of $1.92 billion for 2024, which is a significant increase from $228.9 million the previous year. However, CoreWeave also reported a larger net loss, reaching $863.4 million, up from $593.7 million in 2023. Morgan Stanley, JPMorgan Chase, and Goldman Sachs are leading the underwriting for the IPO. The shares will be traded on the Nasdaq stock exchange under the ticker symbol CRWV.