Cloud-computing provider CoreWeave Inc., backed by Nvidia, saw overwhelming investor demand for its initial public offering (IPO), with the offering being oversubscribed within the first day of marketing.
The strong response underscores the market’s appetite for artificial intelligence (AI)-driven cloud infrastructure providers, as CoreWeave continues to expand its high-performance computing services.
CoreWeave launched its IPO marketing campaign on March 20, offering 49 million shares priced between $47 and $55 each.
The company aims to raise up to $2.7 billion at the top end of its range, potentially valuing it at around $26 billion. With the IPO already oversubscribed, demand has far exceeded available shares, pointing to a blockbuster market debut.
The IPO is expected to price on March 27, with trading set to begin the following day on the Nasdaq under the ticker symbol “CRWV.”
Leading investment banks, including Morgan Stanley, JPMorgan Chase & Co., and Goldman Sachs Group Inc., are underwriting the offering, alongside 11 other financial institutions.
CoreWeave specializes in providing cloud-based graphics processing unit (GPU) infrastructure, catering to AI developers and machine-learning applications. The company’s services have been in high demand, particularly as AI adoption accelerates across industries.
A key driver of its growth has been its $11.9 billion infrastructure agreement with OpenAI, the firm behind ChatGPT. Additionally, OpenAI plans a private placement in CoreWeave, investing $350 million in shares—further cementing the strategic partnership between the two tech giants.
The overwhelming demand for CoreWeave’s IPO signals continued investor confidence in the AI and cloud computing sectors.
As businesses race to scale their AI-driven operations, the need for specialized cloud solutions tailored for machine learning, deep learning, and large-scale computing is becoming more critical than ever.
Analysts believe CoreWeave is well-positioned to capitalize on the surging demand for AI-driven cloud infrastructure, potentially making it one of the most closely watched tech IPOs of 2025.
With a robust pipeline of AI-focused clients, strong financial backing, and a market eager for high-performance cloud solutions, CoreWeave’s successful IPO could pave the way for further expansion and innovation in the cloud computing space.
If current demand trends continue, CoreWeave’s valuation may surge post-IPO, solidifying its place as a leading provider in the AI cloud ecosystem.
Investors and tech enthusiasts will be watching closely as CoreWeave officially debuts on the Nasdaq later this month.
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