# CoreWeave

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Not to be confused with [CodeWeavers](/source/CodeWeavers).

American technology company

CoreWeave, Inc. Type Public Traded as Nasdaq: CRWV (Class A) Industry Cloud computing Founded September 21, 2017; 8 years ago (2017-09-21) (as Atlantic Crypto) in New Jersey Founders Michael Intrator Brian Venturo Brannin McBee Peter Salanki Headquarters Livingston, New Jersey , United States Area served International Key people Michael Intrator (CEO) Services Access to high-performance computing centers, supercomputers, cloud computing, AI infrastructure Revenue US$5.13 billion (2025) Operating income US$−46 million (2025) Net income US$−1.2 billion (2025) Total assets US$49.3 billion (2025) Total equity US$3.34 billion (2025) Number of employees 2,189 (2025) Website coreweave.com Footnotes [1]

**CoreWeave, Inc.** is an American [artificial intelligence](/source/Artificial_intelligence) (AI) [cloud-computing](/source/Cloud-computing) company based in [Livingston, New Jersey](/source/Livingston%2C_New_Jersey). It specializes in providing cloud-based [graphics processing unit](/source/Graphics_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 on [high-performance computing](/source/High-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 for [Nvidia](/source/Nvidia) in [Plano, Texas](/source/Plano%2C_Texas),[3] has been described by Nvidia as the fastest AI [supercomputer](/source/Supercomputer) in the world.[8]

## History

### 2017–2021

The company was founded in 2017 in [New Jersey](/source/New_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 a [cryptocurrency](/source/Cryptocurrency) mining company, mining [ethereum](/source/Ethereum) using [graphics processing units](/source/Graphics_processing_unit). In the wake of the [2018 cryptocurrency crash](/source/2018_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]

### 2022–2023

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 fastest [H100](/source/Hopper_(microarchitecture)) 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 as [Stability AI](/source/Stability_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 billion [debt financing](/source/Debt_financing) facility led by [Magnetar Capital](/source/Magnetar_Capital) and [Blackstone](/source/Blackstone_Inc.) by using Nvidia's [H100](/source/Hopper_(microarchitecture)) 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]

### 2024

The company raised $1.1 billion in funding led by [Coatue Management](/source/Coatue_Management) in May 2024, reportedly valuing the company at $19 billion.[4][17] According to a *[Bloomberg News](/source/Bloomberg_News)* report in October 2024, [Cisco](/source/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](/source/Goldman_Sachs), [JPMorgan Chase](/source/JPMorgan_Chase) and [Morgan Stanley](/source/Morgan_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 buy [high-performance computing](/source/High-performance_computing) (HPC) capacity vendor [Core Scientific](/source/Core_Scientific) was rejected.[7][22][23] In November 2024, *[Tom's Hardware](/source/Tom's_Hardware)* reported that CoreWeave was among the first cloud service providers to receive shipments of Nvidia's new [Blackwell](/source/Blackwell_(microarchitecture)) hardware.[24]

In November 2024, CoreWeave closed a $650 million secondary share sale,[25] with investors such as [Jane Street](/source/Jane_Street_Capital), [Magnetar Capital](/source/Magnetar_Capital), Fidelity Management, and [Macquarie Capital](/source/Macquarie_Capital).[26] *Bloomberg* reported in November 2024 that CoreWeave was planning a 2025 [initial public offering](/source/Initial_public_offering), and had selected [Morgan Stanley](/source/Morgan_Stanley), [Goldman Sachs](/source/Goldman_Sachs), and [JP Morgan Chase](/source/JP_Morgan_Chase) to manage.[27] CoreWeave filed its [Form S-1](/source/Form_S-1) in March 2025 and planned to list on the [Nasdaq](/source/Nasdaq) under the symbol "CRWV".[28] According to the filing, [Microsoft](/source/Microsoft) accounted for over 60 percent of CoreWeave's revenue in 2024.[29]

### 2025

In February 2025, CoreWeave was reported to be the first cloud provider to make Nvidia [GB200 NVL72](/source/Nvidia_DGX#DGX_GB200) chips available via cloud computing. IBM announced it would use the GB200 clusters to train its [Granite AI](/source/IBM_Granite).[30] In March 2025, CoreWeave announced the acquisition of the AI platform developer Weights & Biases, reportedly for around $1.7 billion.[31] Also in March, [OpenAI](/source/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 a [private placement](/source/Private_placement) of $350 million worth of shares during the IPO.[32]

CoreWeave reduced its IPO size from $2.7 billion to $1.5 billion on March 27, 2025.[33] It went public on March 28, 2025, raising $1.5 billion, and was the largest AI-related listing by amount raised, according to [Dealogic](/source/Dealogic).[34]

In July 2025, CoreWeave became the first company to deploy Nvidia Blackwell Ultra GPUs (GB300 NVL72) commercially, with Dell providing the servers.[35]

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.[36]

In September 2025, CoreWeave agreed to acquire OpenPipe, a startup specializing in [reinforcement learning](/source/Reinforcement_learning) tools for training [AI agents](/source/AI_agent).[37]

In October 2025, CoreWeave agreed to acquire Monolith AI, a developer of AI and ML applications for physics.[38]

### 2026

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.[39]

In February 2026, CoreWeave sought $8.5b in new financing, using major AI infrastructure contracts with Meta Platforms as collateral.[40]

In April 2026, CoreWeave announced a multi-year agreement with Anthropic to provide Nvidia GPU capacity for production-scale Claude inference workloads, and separately priced an upsized $3.5 billion convertible senior notes offering, developments that came within 48 hours of a separate $21 billion expansion of its infrastructure partnership with Meta.[41]

## Key people and employees

Headquartered in New Jersey,[11] as of 2025 the company had around 1,450 employees.[42] 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.[43] In 2024, Nitin Agrawal from Google joined as CFO.[44] In Aug. 2024, Sachin Jain, formerly of [Oracle](/source/Oracle_Corporation)'s AI department, was hired as chief operating officer. Simultaneously, Chen Goldberg, formerly of Google, was hired as senior VP of engineering.[45] In October 2024, Michelle O’Rourke was named its new chief people officer,[46] and in Feb. 2025, [Glenn Hutchins](/source/Glenn_Hutchins) was appointed the lead independent director.[47]

## Cloud platform and software

The Coreweave Cloud Platform[48] consists of infrastructure built on a [Kubernetes](/source/Kubernetes)-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]

## Data centers

CoreWeave has its own data centers operating in both the United States and Europe.[7] In 2025, it had 32 data centers,[34] with a total of 250,000 GPUs.[49] 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[50] in a 280,000 sq ft space at the Northeast Science and Technology Center in [Kenilworth, New Jersey](/source/Kenilworth%2C_New_Jersey).[51][52]

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 in [Plano, Texas](/source/Plano%2C_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 rents [high-performance computing](/source/High-performance_computing) (HPC) capacity from Core Scientific.[7][53][*[unreliable source?](https://en.wikipedia.org/wiki/Wikipedia:Reliable_sources)*]

In December 2024, Canadian AI startup [Cohere](/source/Cohere) announced plans to build a multi-billion data center built and operated by CoreWeave.[54]

In Dec. 2024, [Dell](/source/Dell) and CoreWeave began partnering on infrastructure.[55] In 2025, CoreWeave and Microsoft invested in launching AI Hub in New Jersey, which is a project by the [New Jersey Economic Development Authority](/source/New_Jersey_Economic_Development_Authority) and [Princeton University](/source/Princeton_University).[56]

## See also

- [List of artificial intelligence companies](/source/List_of_artificial_intelligence_companies)

## References

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1. **[^](#cite_ref-56)** ["Microsoft and partners invest $72 million to launch AI Hub in New Jersey"](https://www.zdnet.com/article/microsoft-and-partners-invest-72-million-to-launch-ai-hub-in-new-jersey/). *ZDNET*. Retrieved May 17, 2025.

## External links

- [Official website](https://www.coreweave.com/)

- Business data for CoreWeave, Inc.: - [Google](https://www.google.com/finance/quote/CRWV:NASDAQ) - [SEC filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1769628) - [Yahoo!](https://finance.yahoo.com/quote/CRWV)

---
Adapted from the Wikipedia article [CoreWeave](https://en.wikipedia.org/wiki/CoreWeave) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/CoreWeave?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.