CoreWeave, an Nvidia-backed cloud provider, officially filed for an initial public offering in the United States on March 3, 2025. The regulatory filing disclosed that the company's revenue in 2024 soared over 700% to $1.92 billion, highlighting rapid growth in the AI infrastructure market.
The prospectus also revealed a net loss of $863.4 million for 2024, with a Q4 net loss of $51.4 million primarily due to interest expenses, as debt approached $8 billion. Customer concentration was evident, with approximately 77% of 2024 revenue derived from two customers, and Microsoft accounting for 62% of the total.
CoreWeave reported over $15 billion in unfulfilled contracts and operated 32 data centers housing over 250,000 Nvidia GPUs by the end of 2024. The company plans to trade on the Nasdaq under the ticker symbol 'CRWV', with its co-founders retaining significant voting power.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.