CNBC March 3, 2025
Key Points
– CoreWeave, which sell cloud-based processors from Nvidia, is headed for the public market.
– The cloud provider generated $1.92 billion in 2024 revenue, up 737% year over year.
– Microsoft accounted for 62% of CoreWeave’s revenue.
CoreWeave, a provider of cloud-based Nvidia processors to companies including Meta and Microsoft, is headed for the public market.
In its IPO prospectus on Monday, CoreWeave said revenue in 2024 soared more than 700% to $1.92 billion. The company recorded a net loss of $863.4 million. In 2024, around 77% of revenue came from two customers, with 62% the total flowing from Microsoft. CoreWeave had over $15 billion in contracts that had not been fulfilled.
In the fourth quarter, it generated...
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