Status
Available
Last Round Valuation
$50 Billion
Share Price
$50.00
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CoreWeave is a specialized cloud provider, delivering a massive scale of GPUs on top of the industry’s fastest and most flexible infrastructure.
CoreWeave solves the critical problem of GPU availability and performance for AI and machine learning workloads. CoreWeave is an AI hyperscaler and is building the infrastructure to power the AI innovations that are already changing how businesses operate in the global economy. The company provides specialized cloud infrastructure that delivers a broad range of capabilities for machine learning and AI, graphics and rendering, life sciences, real-time streaming, and more. CoreWeave brings unmatched speed-to-market for advanced compute—enabling AI developers and companies to access high-performance GPU resources on-demand, reducing latency and improving overall user experience for AI applications while potentially lowering costs through more efficient resource utilization.
GPU Compute is CoreWeave's core service, providing access to a wide variety of NVIDIA GPUs, including the latest NVIDIA Blackwell and HGX H100 models. These are used for AI training, inference, rendering, and other GPU-intensive tasks.
In addition to GPUs, CoreWeave offers CPU-based compute resources for tasks that don't require GPU acceleration.
CoreWeave provides a Kubernetes-native cloud platform, allowing for easy deployment and management of containerized applications. Kubernetes is an open-sourced infrastructure to manage and automate workloads in the cloud. CoreWeave uses Kubernetes to ensure fast, reliable service.
CoreWeave offers virtual servers, which are partitioned spaces within a physical server that replicate the functionality of dedicated servers, providing seamless and transparent user experiences.
CoreWeave provides high-performance storage solutions, offering block, file system, and object storage options to complement their compute offerings.
CoreWeave offers advanced networking capabilities designed to support high-bandwidth, low-latency workloads, enabling seamless connection, communication, and interaction between their infrastructure and customer devices.
CoreWeave provides specialized solutions, including tailored services for VFX and rendering in the entertainment industry, optimized infrastructure for machine learning and AI workloads, dedicated inference services for AI model deployment, and pixel streaming solutions for graphics-intensive applications.
CoreWeave operates on a pay-as-you-go pricing model, where customers pay for the GPU resources they utilize, typically on an hourly basis. This model is attractive to clients as it eliminates the need for significant upfront investments in hardware and allows for flexible scaling.
According to The Information, in June 2023 CoreWeave told investors that it expected to generate more than $500 million in revenue in 2023, up from about $25 million in 2022, and it projected $2.3 billion in 2024 revenue, off the rapid acceleration of demand for GPU compute from cloud providers, LLM companies, and every app looking to integrate generative AI features.
According to The Information, in June 2023 CoreWeave has signed cloud contracts in excess of $7 billion through 2026, up from $5 billion in early 2023.
According to The Information, in June 2023 CoreWeave's ~85% gross margins come from the difference between the cost of maintaining these resources (including the initial investment in hardware, ongoing electricity, cooling, maintenance, and support staff costs) and the revenue generated from customers paying to use these resources.
In May 2024, CoreWeave announced its new European headquarters based in London, and a $1.25 billion investment in the region with two data centers in London – kickstarting a broader expansion plan in the continent.
In May ’24, CoreWeave closed the largest private debt financing of all time - a $7.5 billion debt facility led by returning investor Blackstone, with strategic participation from Magnetar and Coatue. Participation also included Carlyle, PIMCO, CDPQ, DigitalBridge Credit, with funds and accounts managed by BlackRock, Eldridge Industries, and Great Elm Capital Corp.
In June 2024, CoreWeave announced that we will be opening three more data centers located in Norway, Sweden, and Spain, an additional $2.2 billion investment in Europe’s compute footprint.
According to Bloomberg, in October 2024 Cisco Systems agreed to invest in CoreWeave at a $23 billion valuation and is considering an initial public offering as soon as next year.
In October 2024, CoreWeave announced that it had closed a $650 million credit facility led by JPMorgan, Goldman Sachs, and Morgan Stanley, to expand its business and data center portfolio.
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Customers
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Key Investors
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Size of Market
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Market Position
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Industry
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Primary Vertical
Artificial Intelligence
Employees
500
Mosaic Score
840
Money
760
Momentum
850
Management
760
Market
960
What is a Mosaic Score?
| Name | Work History | Title | Status |
|---|---|---|---|
| John Smith | Aenean, quam eu, diam dignissim | Chief Executive Officer | Current |
| John Smith | Aenean, quam eu, diam dignissim | Chief Executive Officer | Current |
| John Smith | Aenean, quam eu, diam dignissim | Chief Executive Officer | Current |
| John Smith | Aenean, quam eu, diam dignissim | Chief Executive Officer | Current |
Last Round
Sept. 2019, Series B1
Valuation Post-Money
$400.2M
Amount Raised
$2.5M
Total Funds Raised
$75.2M
Implied Valuation
$84M
| Date | Round | Amount | Valuation | Investors |
|---|---|---|---|---|
| MM/DD/YYYY | Growth Equity | $1M | $2.8B | Name goes here |
| MM/DD/YYYY | Growth Equity | $1M | $2.8B | Name goes here |
| MM/DD/YYYY | Growth Equity | $1M | $2.8B | Name goes here |
| MM/DD/YYYY | Growth Equity | $1M | $2.8B | Name goes here |
| Company | Valued | Revenue |
|---|---|---|
|
Coinbase San Francisco, CA |
$2.8B | $1.3B |
|
Coinbase San Francisco, CA |
$2.8B | $1.3B |
|
Coinbase San Francisco, CA |
$2.8B | $1.3B |
