“To deliver innovative, scalable, and cost-effective cloud computing solutions that empower businesses and researchers to accelerate their computational workloads and drive transformative outcomes.”

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CoreWeave, founded in 2017 by Brian Venturo, Michael Intrator, and Brannin McBee, is a leading provider of cloud infrastructure specializing in GPU-accelerated computing. The company offers tailored solutions for industries requiring high-performance computing, including AI, machine learning, visual effects, and scientific research.

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Business Model

CoreWeave operates on an Infrastructure-as-a-Service (IaaS) model, providing access to a highly flexible and scalable cloud platform. The company generates revenue through subscription-based services and pay-as-you-go pricing, enabling clients to customize their computing resources based on specific project needs.

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Targeted Impact

CoreWeave aims to revolutionize cloud computing by providing cost-effective, high-performance GPU solutions that empower businesses and researchers to tackle complex computational challenges efficiently.

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Who Will benefit?

Industries such as AI, machine learning, visual effects, healthcare, and scientific research will benefit from CoreWeave’s scalable computing power, enabling them to accelerate innovation and reduce time to market.

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What Comes Next?

CoreWeave plans to expand its infrastructure capabilities, incorporate emerging technologies, and form strategic partnerships to enhance its service offerings, further establishing itself as a leader in GPU-accelerated cloud computing.

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CoreWeave Growth Timeline

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Key Partners

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Prominent News

Cloud-Computing Firm CoreWeave In Talks for Share Sale at $23 Billion Valuation, September 13, 2024 - CoreWeave is negotiating a potential sale of existing shares that could value the company at $23 billion, marking a significant increase from its previous valuations.  Click here to read more.‍

Blue Owl, Chirisa Technology Parks and PowerHouse Data Centers announce first phase of $5 Billion Joint Venture Development Partnership,  August 29, 2024 - Blue Owl, CTP, and PowerHouse have formed a joint venture to develop large-scale AI/HPC data centers for CoreWeave, with potential to invest up to $5 billion. Click here to read more.‍

‍CoreWeave First to Market with NVIDIA H200 Tensor Core GPUs, Ushering in a New Era of AI Infrastructure Performance, August 28, 2024 - CoreWeave announced it is the first cloud provider to bring NVIDIA H200 Tensor Core GPUs to market. Companies such as Cohere, Mistral, and NovelAI use CoreWeave's infrastructure services train models. Click here to read more.‍

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Revenue

Based on 2024 revenue figures (forecasted) and latest funding round at $19B, CoreWeave currently trades around a 24.64x revenue multiple.

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Return on Investment (ROI)

ROI computed as of September 23, 2024.

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Funding Round in USD

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Series C Valuation

<span class="date">2024-05-16</span>
<span class="value">$19B</span>

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Implied Valuation

<span class="date">2024-09-23</span>
<span class="value">$22.3B</span>

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Change Since Last Round

<span class="date">2024-05-16 → 2024-09-09</span>

<span class="value green">+17.47%</span>

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Monthly Bid:Ask Volume Ratio

PM Insights highlights the monthly bid:ask volume ratio where there were at least three institutionally-sized broker contributions within that period. PM Insights did not observe activity for CoreWeave before end of October 2023.

July of 2024 had the highest total volume at $282.96M, whereas June of 2024 had the lowest total volume at $18M.

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90D Activity

Activity at each date is the total unique broker contributions (bid/ask/trade) within the last 90 days of that date. CoreWeave's activity skyrocketed between June and September of 2024 and reached a total of 37 unique broker contributions between June 24, 2024, and September 23, 2024.

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