CoreWeave Moves Toward Public Listing With $1.9B Revenue Disclosure

CoreWeave Files for IPO, Seeks $4 Billion Amid Booming AI Demand

CoreWeave, an AI-focused cloud computing firm with deep ties to bitcoin miner Core Scientific (CORZ), has officially filed for an initial public offering (IPO), targeting a $4 billion raise at a valuation exceeding $35 billion.

The company’s filing revealed that it generated $1.9 billion in revenue in 2024 but reported a net loss of $863 million, largely due to its aggressive investments in AI infrastructure. CoreWeave also disclosed an accumulated deficit of $1.5 billion.

As part of its expansion, CoreWeave has partnered with Core Scientific to develop 500 megawatts (MW) of AI-specific infrastructure. Core Scientific, once CoreWeave’s primary GPU supplier during the Ethereum mining era, now plays a key role in its transition to AI-driven operations.

The move comes amid a surge in AI adoption across industries, from retail to enterprise-level institutions. Citing IDC projections, CoreWeave estimates that AI could contribute $20 trillion to the global economy—around 3.5% of global GDP—by 2030.

Following the announcement, shares of Core Scientific (CORZ) climbed 3.5% in after-hours trading.