Australia’s Under-16 Social Media Ban Sparks Global Debate and Early Challenges 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
Apple App Store Injunction Largely Upheld as Appeals Court Rules on Epic Games Case 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide 
Trump’s Approval of AI Chip Sales to China Triggers Bipartisan National Security Concerns 
Trump Sues BBC for Defamation Over Edited Capitol Riot Speech Clip 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
EssilorLuxottica Bets on AI-Powered Smart Glasses as Competition Intensifies 
CoreWeave, a cloud provider backed by Nvidia (NASDAQ:NVDA), has filed for a U.S. IPO, aiming for a valuation exceeding $35 billion. The company, which supplies high-powered chips and data center access for AI workloads, saw its revenue surge over eightfold to $1.92 billion in 2024 from $228.9 million in 2023. Despite this growth, its net loss widened to $863.4 million.
The IPO, expected to raise over $3 billion, comes as AI-driven demand for cloud computing accelerates. CoreWeave competes with Microsoft (NASDAQ:MSFT) Azure and Amazon (NASDAQ:AMZN) AWS, serving major clients like Meta (NASDAQ:META), IBM (NYSE:IBM), and hedge fund Jane Street. Nvidia, holding a 6% stake in the company, remains a key supplier.
Founded in 2017, the Roseland, New Jersey-based firm has expanded its data center footprint from 10 to 32 in 2024, operating over 250,000 GPUs. It has raised more than $14.5 billion across 12 financing rounds, including a $7 billion private debt funding led by Blackstone (NYSE:BX) and Magnetar in May.
The listing comes amid a booming AI sector, despite concerns over spending slowdowns following Microsoft's reported data center lease cuts and rising competition from China’s DeepSeek. However, Nvidia's strong earnings reaffirmed continued AI investment.
A successful CoreWeave IPO could reignite the tech IPO market, attracting more AI firms to go public. The company, backed by major investors like Fidelity and Magnetar, has enlisted 14 banks, including Morgan Stanley, J.P. Morgan, and Goldman Sachs, to manage the offering. CoreWeave will trade under the Nasdaq ticker "CRWV," with proceeds allocated for working capital and debt repayment.
