AI cloud giant Coreweave (CRWV.US) plans to set an IPO price of 47-55 US dollars and a valuation of more than 2.3 billion US dollars

The Zhitong Finance App learned that, according to people familiar with the matter, artificial intelligence startup CoreWeave (CRWV.US), plans to propose a pricing range of 47 to 55 US dollars per share to investors when launching an initial public offering (IPO) roadshow this week. This price range means that CoreWeave's IPO scale will reach 2.3 billion to 2.7 billion US dollars.

People familiar with the matter said that if investor demand is strong, Coreweave may increase this range before the IPO price.

CoreWeave didn't immediately respond to requests for comment.

Established in 2017, CoreWeave is dedicated to providing data center access and high-performance chip support for AI workloads. Its core supplier is Nvidia. The company competes with cloud service providers such as Microsoft (MSFT.US) Azure and Amazon (AMZN.US) AWS. Its customers include large technology companies such as Meta (META.US), IBM (IBM.US), and Microsoft.

In the IPO documents submitted in early March, CoreWeave reported 2024 yuan of 1.92 billion US dollars, a significant increase from 228.9 million US dollars the previous year. Net loss for the same period increased from US$593.7 million in 2023 to US$863.4 million. About two-thirds of the company's revenue comes from Microsoft.

Morgan Stanley, J.P. Morgan Chase, and Goldman Sachs will act as lead underwriters for the CoreWeave stock listing. The company's shares are expected to be listed on the NASDAQ exchange under the symbol CRWV.