Billion-Dollar AI Drama! CoreWeave’s IPO Plans Will Leave You Speechless 🤯
What to know:
- AI firm CoreWeave filed for an IPO, aiming to raise $4 billion with a $35 billion valuation.
- CoreWeave reported $1.9 billion in revenue in 2024 and a net loss of $863 million due to AI investments.
- The company is building 500MW of AI infrastructure with Core Scientific, its former GPU supplier.
Oh, the wondrous pageantry of capitalism’s favorite soap opera—IPO filings! Today, our protagonist, CoreWeave, an AI firm gallivanting hand-in-hand with bitcoin miner Core Scientific (CORZ), decided to throw its hat into the ring of public offerings. But don’t reach for the popcorn just yet; there’s more drama coming.
So what’s the plan? Well, they’re aiming for a $35 billion valuation while trying to fish out $4 billion from eager investors’ pockets. Ambitious? You bet. Risky? Like riding a unicycle on a greased tightrope. 🎪
Financially speaking, 2024 handed CoreWeave $1.9 billion in revenue… only for them to toss $863 million of it into the flaming pyre of AI investments. And oh, the irony! The company—a once-pure miner of crypto dreams—now leans heavily on its old GPU supplier, Core Scientific, to build 500 megawatts (MW) of AI infrastructure. Truly, this is an awkward family reunion at its finest. 🖥️💾
The big picture? CoreWeave is shouting from the rooftops that AI will rewrite the economic rulebook, driving a global impact worth $20 trillion, or around 3.5% of global GDP, by 2030. That’s according to IDC, of course. But hey, who’s counting? 🤷♂️
Meanwhile, shares of CORZ dribbled up 3.5% in post-market trading. Don’t call it a rally—more like a cautious tiptoe forward. But knowing Wall Street, someone will probably *still* find a way to profit from this delightful chaos. 💹
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2025-03-04 02:04