Nvidia-Backed CoreWeave IPO: 5 Things Investors Need To Know Before Buying Shares

Nvidia-Backed CoreWeave IPO: 5 Things Investors Need To Know Before Buying Shares

Benzinga
March 27, 2025

One of the most anticipated IPOs of 2025 is nearly here. CoreWeave (NASDAQ:CRWV) is set to make its public debut in a test of how much growth investors still see in the artificial intelligence sector.

CoreWeave plans to sell 49 million shares at a price between $47 and $55. Of the total shares offered, 47.18 million will come from the company with 1.82 million sold by existing shareholders.

Here's a look at five things investors should know about the AI Hyperscaler company ahead of its IPO.

Key Customers: CoreWeave is well-known in the AI sector and could have a hot IPO, thanks to a key customer base that includes several of the largest technology and semiconductor companies.

"Our CoreWeave Cloud platform consists of our proprietary software and cloud services that deliver the software and software intelligence needed to manage complex AI infrastructure at scale," the company wrote in its IPO filing.

CoreWeave lists Cohere, International Business Machines, Meta Platforms, Microsoft Corporation (NASDAQ:MSFT), Mistral AI, NVIDIA Corporation (NASDAQ: NVDA) and OpenAI as some of its customers.

The company gets most of its revenue from multi-year committed contracts, and having this strong base of well-known names could help increase demand for the IPO.

Microsoft is highlighted as CoreWeave's biggest customer, making up 35% of revenue in 2023 and 62% in 2024. The company said its three largest customers made up 41% of its revenue in 2022 and 73% in 2023. For 2024, the company's two largest customers comprised 77% of revenue.

Going forward, CoreWeave expects Microsoft to represent less than 50% of future committed contract revenue. While ...

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