CoreWeave
Specialised GPU Cloud for AI
Market Cap
$35B+ (post-IPO, Jun 2026)
Total Funding
$14B+ raised pre-IPO; $1.5B IPO proceeds
Revenue
$1.9B (2024); projected $8.6B (2025)
Profit Status
Pre-profit; high capex; $8B+ long-term debt
Employees
~1,500 (2025)
About CoreWeave
CoreWeave is the leading specialised cloud provider for AI/GPU workloads, operating over 250,000 NVIDIA GPUs across 32 data centres. Originally a crypto mining company, it pivoted to GPU cloud in 2019 and rode the AI training boom to become one of the fastest-growing cloud infrastructure companies ever. CoreWeave completed a $23B IPO in March 2025 — the largest US tech IPO since Arm Holdings. Customers include Microsoft, Cohere, OpenAI (via Stargate), and IBM. It acquired Weights & Biases for $1.7B in July 2025 to add ML observability to its stack.
Company History
CoreWeave was founded in 2017 in New Jersey by three commodity traders — Michael Intrator, Brian Venturo, and Brannin McBee — as an Ethereum mining company. When Ethereum transitioned away from proof-of-work in 2022, they pivoted their GPU fleet to AI cloud. They onboarded NVIDIA as an investor in 2023 and signed a blockbuster $10B+ contract with Microsoft. By 2024 CoreWeave operated 32 data centres with 250,000+ NVIDIA H100/H200 GPUs. The $23B IPO (March 2025, NASDAQ: CRWV) validated the specialised GPU cloud model. The W&B acquisition added ML experiment tracking and evaluation to their platform.
Company Timeline
2017
Founded as NJ-based cryptocurrency mining company using Ethereum
2019
Pivoted to GPU cloud as crypto margins compressed
2023
Microsoft signs multi-year agreement worth $10B+
Apr 2023
NVIDIA invests in Series B; becomes preferred hyperscaler for NVIDIA GPUs
Aug 2023
$2.3B Series C at $7B valuation
Mar 2025
$23B IPO on NASDAQ — largest US tech IPO since Arm Holdings
Jul 2025
Acquired Weights & Biases (W&B) for $1.7B
Products & Services
Company Details
Focus Area
Specialised GPU Cloud for AI
Stage
Founded
2017
Headquarters
Roseland, NJ
Employees
~1,500
Stock Ticker
CRWV
Financial Overview
Total Funding
$14B+ raised pre-IPO; $1.5B IPO proceeds
Market Cap
$35B+ (post-IPO, Jun 2026)
Revenue
$1.9B (2024); projected $8.6B (2025)
Profit Status
Pre-profit; high capex; $8B+ long-term debt
Funding Rounds
- Series B$221MApr 2023NVIDIA, Magnetar Capital
- Series C$2.3BAug 2023Magnetar, Coatue
- Series C+$7.5BMay 2024Coatue, Blackstone
- IPO$1.5BMar 2025Public markets; $23B valuation at IPO
Key Investors
Key People
- Michael Intrator (CEO / Co-founder)
- Brian Venturo (CSO / Co-founder)
- Brannin McBee (CCO / Co-founder)