CoreWeave, an AI cloud platform based in Roseland, New Jersey, is preparing for a significant IPO in the United States.
The company aims to raise over $3 billion and achieve a valuation exceeding $35 billion by 2025.
The IPO is expected to launch in the second quarter of 2025, subject to favorable market conditions.
The surge in investor interest in generative AI technologies has benefited companies involved in data infrastructure, including CoreWeave. The company faces competition from major cloud service providers like Microsoft's Azure and Amazon's AWS.
The funding landscape for private AI and cloud startups is experiencing a resurgence, with investments projected to reach approximately $79.2 billion by the end of the year.
CoreWeave recently completed a successful $650 million secondary share sale, attracting notable investors.
The company has engaged investment banks to assist with its IPO preparations. The IPO market is showing signs of recovery, particularly in the tech sector.
CoreWeave's strategic focus on AI infrastructure positions it well for growth in the public markets.