CoreWeave is preparing for an IPO with an estimated valuation of $32 billion to over $4 billion.
The company's three co-founders have already sold off almost $488 million worth of shares prior to the IPO.
The co-founders will retain control of CoreWeave, despite owning less than 3% of the Class A shares, through their majority ownership of Class B shares.
CoreWeave, an AI-specific cloud service provider, had significant revenue growth, reaching $1.9 billion in 2024 despite being unprofitable and carrying a debt of $7.9 billion.