Mentioned:
CORZ -7.35%
There’s a new mega IPO coming to the Nasdaq. And it’s one of the most important companies in high performance computing.
What’s happening:
- CoreWeave has officially filed an S-1 with the United States Securities and Exchange Commission to IPO
By the numbers:
- CoreWeave generated revenue of $1.9B USD last year, which was approximately 8x more than the previous year
- Currently, CoreWeave operators 32 different data centres and has more than 250,000 GPUs
Why it matters:
- CoreWeave is one of the largest providers of GPUs in America for artificial intelligence workloads and high performance computing
Going deeper:
- Microsoft (NASDAQ: MSFT) is the largest single customer of CoreWeave and represents more than half of their total revenue
- CoreWeave has been aggressively ramping up their data centre infrastructure, which previously led them to striking a deal with publicly listed Bitcoin mining company Core Scientific to build out new data centre operations
The intrigue:
- Prior to going all in on high performance computing and artificial intelligence workloads, CoreWeave was previously entirely focused on mining Ethereum
