CoreWeave raises $1.5 billion in scaled-back IPO

Catch up quick: CoreWeave originally filed to raise around $2.5 billion, but slashed its price, the number of shares, and still needed a $250 million anchor commitment from existing shareholder and partner Nvidia.

• Recent market volatility may have contributed to the reduction, although some investors might have been turned off by growing losses and a heavy debt load.
• It will begin trading tomorrow on the Nasdaq under ticker symbol "CRWV."

By the numbers: CoreWeave reports an $863 million net loss on $1.9 billion in revenue for 2024, compared to a $594 million net loss on $229 million in revenue the prior year.

• It has 32 data centers with over 250,000 GPUs online.
• The Roseland, N.J.-based company had raised around $1.6 billion from private market investors, including Magnetar and Fidelity, most recently at a $23 billion valuation.