 | |
| Company type | Public |
|---|---|
| Nasdaq: CRWV (Class A) | |
| Industry | Cloud computing |
| Founded | September 21, 2017; 8 years ago (2017-09-21) (as Atlantic Crypto) in New Jersey |
| Founders |
|
| Headquarters | , United States |
Area served | International |
Key people | Michael Intrator (CEO) |
| Services | Access tohigh-performance computing centers,supercomputers,cloud computing, AI infrastructure |
| Revenue |  US$1.92 billion[1] (2024) |
Number of employees | 1,450 (2025) |
| Website | coreweave.com |
CoreWeave, Inc. is an Americanartificial intelligence (AI)cloud-computing company based inLivingston, New Jersey. It specializes in providing cloud-basedgraphics processing unit (GPU) infrastructure to AI developers and enterprises,[2][3][4][5] and also develops its own chip management software.[6]
Founded as Atlantic Crypto in 2017 and focused onhigh-performance computing,[2] CoreWeave has its own data centers operating in the United States and Europe,[7] with some dedicated to multiple companies and some to a single client.[3] Its $1.6 billion supercomputer data center forNvidia inPlano, Texas,[3] has been described by Nvidia as the fastest AIsupercomputer in the world.[8]
The company was founded in 2017 inNew Jersey[2] by three commodities traders—Michael Intrator, Brian Venturo, and Brannin McBee,[2][3][9] as well as Peter Salanki.[10] Originally known as Atlantic Crypto, it initially operated as acryptocurrency mining company, miningethereum usinggraphics processing units. In the wake of the2018 cryptocurrency crash, in 2019 the company was renamed CoreWeave, leveraging its large inventory of GPUs to start providing cloud computing infrastructure to companies.[2][3][9]
CoreWeave was operating three data centers in 2022, all in the United States.[9] In the summer of 2022, the company invested heavily in Nvidia's latest and fastestH100 chips, spending around $100 million on the purchases.[2] CoreWeave launched an accelerator program[7][11] in October 2022, which gives startup companies "compute credits in addition to discounts and other hardware resources on the CoreWeave cloud."[12] As the market demand for AI processing increased in 2022 and 2023,[3] CoreWeave, which had unique access to Nvidia GPUs,[13] saw its business jump considerably. With CoreWeave signing clients such asStability AI, CoreWeave continued to buy chips and build out new data centers, with its data center technicians installing 6,000 miles of fiber-optic cabling in 2023.[3] In April 2023,[14] Nvidia invested $100 million in CoreWeave.[9] The company was valued around $2 billion by May 2023.[9] In August 2023, CoreWeave secured a $2.3 billiondebt financing facility led byMagnetar Capital andBlackstone by using Nvidia'sH100 GPUs as collateral.[15] The deal marked the first time that H100-based hardware had been used as collateral,[16] which attracted some note in the business press.[2][13]
The company raised $1.1 billion in funding led byCoatue Management in May 2024, reportedly valuing the company at $19 billion.[4][17] According to aBloomberg News report in October 2024,Cisco was set to invest in CoreWeave as well, reportedly valuing the company at $23 billion.[18] Also in October 2024, CoreWeave announced that it secured a $650 million credit line for expanding its operations and data centers.[19]Goldman Sachs,JPMorgan Chase andMorgan Stanley were among those who led the financing.[19][20]
The company had announced plan by 2024 to invest $978.6 million in U.K. data centers.[21] In June 2024, CoreWeave's $1 billion offer to buyhigh-performance computing (HPC) capacity vendorCore Scientific was rejected.[7][22][23] In November 2024,Tom's Hardware reported that CoreWeave was among the first cloud service providers to receive shipments of Nvidia's newBlackwell hardware.[24]
In November 2024, CoreWeave closed a $650 million secondary share sale,[25] with investors such asJane Street,Magnetar Capital, Fidelity Management, andMacquarie Capital.[26]Bloomberg reported in November 2024 that CoreWeave was planning a 2025initial public offering, and had selectedMorgan Stanley,Goldman Sachs, andJP Morgan Chase to manage.[27] CoreWeave filed itsForm S-1 in March 2025 and planned to list on theNasdaq under the symbol "CRWV".[1] According to the filing,Microsoft accounted for over 60 percent of CoreWeave's revenue in 2024.[28]
In February 2025, CoreWeave was reported to be the first cloud provider to make NvidiaGB200 NVL72 chips available via cloud computing. IBM announced it would use the GB200 clusters to train itsGranite AI.[29] In March 2025, CoreWeave announced the acquisition of the AI platform developer Weights & Biases, reportedly for around $1.7 billion.[30] Also in March,OpenAI signed a five-year cloud-computing contract worth approximately $12 billion with CoreWeave for its AI infrastructure needs. The deal allowed OpenAI to acquire a stake in CoreWeave through aprivate placement of $350 million worth of shares during the IPO.[31]
CoreWeave reduced its IPO size from $2.7 billion to $1.5 billion on March 27, 2025.[32] It went public on March 28, 2025, raising $1.5 billion, and was the largest AI-related listing by amount raised, according toDealogic.[33]
In July 2025, CoreWeave became the first company to deploy Nvidia Blackwell Ultra GPUs (GB300 NVL72) commercially, with Dell providing the servers.[34]
Core Scientific agreed in July 2025 to be acquired by CoreWeave for $9 billion, but the deal was rejected by Core Scientific shareholders in October 2025.[35]
In September 2025, CoreWeave agreed to acquire OpenPipe, a startup specializing inreinforcement learning tools for trainingAI agents.[36]
In October 2025, CoreWeave agreed to acquire Monolith AI, a developer of AI and ML applications for physics.[37]
In January 2026, CoreWeave received $2 billion in investment from NVIDIA at a purchase price of $87.20 per share as they expand their partnership to boost CoreWeave's data center build out.[38]
Headquartered in New Jersey,[11] as of 2025 the company had around 1,450 employees.[39] Michael Intrator is the company's chief executive and founder, alongside his other cofounders Brian Venturo as chief strategy officer, Brannin McBee as chief development officer, and Peter Salanki as CTO.[40] In 2024, Nitin Agrawal from Google joined as CFO.[41] In Aug. 2024, Sachin Jain, formerly ofOracle's AI department, was hired as chief operating officer. Simultaneously, Chen Goldberg, formerly of Google, was hired as senior VP of engineering.[42] In October 2024, Michelle O’Rourke was named its new chief people officer,[43] and in Feb. 2025,Glenn Hutchins was appointed the lead independent director.[44]
The Coreweave Cloud Platform[45] consists of infrastructure built on aKubernetes-native architecture, designed to support large-scale, GPU-intensive tasks.[7] CoreWeave's cloud-based infrastructure is specifically designed for AI use cases,[9] such as developers building AI applications.[11] Its Mission Control software allows customers to control and verify the performance of the hardware components they're utilizing.[6]
CoreWeave has its own data centers operating in both the United States and Europe.[7] In 2025, it had 32 data centers,[33] with a total of 250,000 GPUs.[46] This was a significant growth from 2024, when the company had thirteen data centers across the United States and two in the United Kingdom.[7][11] It opened a headquarters in London in 2024,[11] as well as two UK data centers.[7] Also in 2024, CoreWeave signed a lease to build a $1.2 billion data center[47] in a 280,000 sq ft space at the Northeast Science and Technology Center inKenilworth, New Jersey.[48][49]
While some of its data centers are rented by multiple companies, others are dedicated to a single client[3] or special projects.[12] Its $1.6 billion supercomputer data center for Nvidia inPlano, Texas, for example, is around 450,000 square feet[3] and utilizes over 3,500 H100s.[12] In September 2023, Nvidia and CoreWeave asserted that the project was the fastest AI supercomputer in the world.[8]
CoreWeave also rentshigh-performance computing (HPC) capacity from Core Scientific.[7][50][unreliable source?]
In December 2024, Canadian AI startupCohere announced plans to build a multi-billion data center built and operated by CoreWeave.[51] CoreWeave announced in Jan. 2025 that two new data centers in the UK hosting Nvidia Hopper (Nvidia H200) GPUs were operational, after beginning development on both in 2024.[52] 77% of 2024 revenue came from its top two clients, with Microsoft alone accounting for 62%.
In Dec. 2024,Dell and CoreWeave began partnering on infrastructure.[53] In 2025, CoreWeave and Microsoft invested in launching AI Hub in New Jersey, which is a project by theNew Jersey Economic Development Authority andPrinceton University.[54]
