TechCrunch Startup News Ahead of a possible $4 billion IPO, CoreWeave’s founders already pocketed $488 million
Mar 7, 2025
CoreWeave is preparing for a potential $4 billion IPO, with surprising insights into its financial stability and rapid revenue growth. Backed by Nvidia, this cloud service provider boasts over 250,000 GPUs across 32 data centers, positioning itself as a key player in the AI landscape. The founders have already pocketed a staggering $488 million, raising questions about their finance-centric approach and the company's dependency on a major customer. Investors keen on the AI scene will find CoreWeave an intriguing opportunity.
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CoreWeave's AI Cloud
- CoreWeave, backed by NVIDIA, offers an AI-specific cloud service.
- They operate 32 data centers with over 250,000 NVIDIA GPUs, aiming for a multi-billion dollar IPO.
Founder Share Sales
- CoreWeave's founders have cashed out nearly $488 million in shares.
- Despite this, they retain control through Class B shares with higher voting power.
Founders' Backgrounds
- CoreWeave's founders have backgrounds in finance, specifically oil industry hedge funds.
- To strengthen their tech expertise, they hired Chen Goldberg from Google Cloud.