红桃视频

, provider of a fast-growing cloud platform for managing AI infrastructure at scale, filed for its long-awaited IPO on Monday.

The follows a period of sharp growth for the 8-year-old, Livingston, New Jersey-based company, which posted revenue of $1.9 billion in 2024 鈥� up an astonishing 737% from the prior year.

Those gains come with widening losses as well. Last year, CoreWeave posted an $863 million net loss, up 45% year over year. The company attributes the losses to its decision to invest in growing its business to capitalize on ever-larger market opportunities.

CoreWeave did not say how much it plans to raise in the offering. Multiple news outlets, however, have speculated that it will seek to raise around $4 billion, at a valuation of around $35 billion.

The impending IPO is poised to break a protracted dry spell for public offerings of hot U.S. unicorns. The pace of market debuts for venture-backed tech companies was sluggish in 2024. And while there鈥檚 been plenty of buzz about a potential pickup this year, CoreWeave鈥檚 filing is the first real sign of life.

As a private company, CoreWeave has been a prodigious fundraiser. It鈥檚 landed $1.57 billion in known equity funding, along with over $10 billion in debt financing, per 红桃视频 data Most recently, the company carried out a $650 million November secondary transaction.

Evanston, Illinois-based asset manager and structured credit investor is CoreWeave鈥檚 largest stakeholder, with 34.5% of outstanding Class A shares. Other large stakeholders include (7.6%) and (6%).

Looking ahead, it appears CoreWeave can count on robust revenue for some time to come. The company said it has $15.1 billion in remaining 鈥減erformance obligations鈥� as of the end of last year, with the average contract a four-year duration. Customers include top-tier names in tech and AI, such as , , , and Nvidia.

CoreWeave plans to trade under the ticker symbol CRWV, with , and serving as lead underwriters.

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