CoreWeave, a cloud computing company backed by Nvidia (NVDA), could go public as soon as next week in what is expected to be one of the biggest IPOs in recent years.

The company is expected to aim for $4 billion in funds raised through the IPO, which would value the company around $35 billion, according to IPO research firm Renaissance Capital. That would make it one of the largest public offerings in recent years.

CoreWeave makes money by providing its clients with access to data centers, which are used to develop 澳洲幸运5官方开奖结果体彩网:artificial intelligence models. The company’s data centers are equipped with highly coveted chips from Nvidia, which holds a roughly 5% staꦛke in CoreWe꧙ave. 

CoreWeave’s biggest client is Microsoft (MSFT), which accounted for 62% of its $1.9 billion in revenue last year, according to its prospectus. Its reliance on Microsoft has been a source of some concern for would-be investors, particularly after a Financial Times report this week said Microsoft “walked away from some of its commitments” with the company.

CoreWeave disputed the report, telling Investopedia "there have been no contract cancellations or walking away from commitments. Any claim to the contrary is false and misleading."

CoreWeave reported🍰🌼 a net loss of $863 million on revenue of $1.9 billion in 2024, which the company attributed to investments in its business.