Startups
Cloud-Computing Firm CoreWeave In Talks for Share Sale at $23 Billion Valuation
- Existing shareholders may sell up to $500 million: sources
- Latest valuation eclipses the $19.1 billion from May round
CoreWeave is building out data centers based on Nvidia’s chips to offer AI-related computing.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
CoreWeave, a cloud computing provider that’s among the hottest startups in the artificial intelligence race, is in talks to arrange a sale of existing shares valuing it at $23 billion, according to people with knowledge of the matter.
The Roseland, New Jersey-based company, led by CEO Michael Intrator, is discussing a transaction that would allow existing shareholders such as employees to tender between $400 million and $500 million worth of their holdings, said the people, who asked not to be identified discussing confidential information. Terms haven’t been finalized and could still change, one of the people said.