Tony Kim
Mar 23, 2025 01:30
CoreWeave, an AI hyperscaler, initiates its IPO roadshow, aiming to list on Nasdaq under the ticker ‘CRWV’. The offering includes 49 million shares with an estimated price range of $47-$55.
CoreWeave, Inc., recognized as an AI hyperscaler, has officially embarked on its initial public offering (IPO) roadshow, as reported by PR Newswire. The company has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC), proposing to offer 49 million shares of its Class A common stock to the public. This includes 47,178,660 shares from CoreWeave and 1,821,340 shares from existing stockholders.
The anticipated price range for the IPO is set between $47.00 and $55.00 per share. CoreWeave has also applied to list its shares on the Nasdaq Global Select Market under the ticker symbol “CRWV”. The company plans to grant underwriters a 30-day option to purchase up to an additional 7,350,000 shares to cover any over-allotments.
The joint lead bookrunners for the offering include Morgan Stanley, J.P. Morgan, and Goldman Sachs & Co. LLC. Additional bookrunners comprise Barclays, Citigroup, MUFG, Deutsche Bank Securities, Jefferies, Mizuho, Wells Fargo Securities, and BofA Securities. Co-managers for the offering include Guggenheim Securities, M. Klein & Company, Macquarie Capital, Needham & Company, Santander, Stifel, and Galaxy Digital Partners LLC.
The IPO proceeds will not benefit the selling stockholders directly. Instead, CoreWeave aims to leverage the funds to further its expansion in the AI and cloud computing sectors. The company, established in 2017, is known for its growing network of data centers across the United States and Europe, providing advanced cloud solutions for AI-driven enterprises.
CoreWeave’s move to go public comes amid increasing demand for AI technology and related infrastructure. The company’s cloud platform has been instrumental for various enterprises and AI laboratories, offering accelerated computing capabilities essential for AI advancements.
This IPO is anticipated to enhance CoreWeave’s market presence and further its capabilities in delivering cutting-edge AI solutions. With the registration statement filed, the offering will only proceed once it becomes effective, complying with all relevant securities regulations.
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