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AI Infrastructure Provider CoreWeave Submits S-1 Filing to SEC

  • CoreWeave, formerly a crypto mining company, has filed for IPO with a potential $35 billion valuation, working with major underwriters Morgan Stanley, Goldman Sachs, and JPMorgan
  • The company reported $1.9 billion in revenue for 2024, a 737% increase from 2023, but also recorded an $863.4 million net loss
  • Recent quarterly results show $747.4 million in revenue with 76% gross margin and $112.7 million in operating income
  • The company has $15.1 billion in unfulfilled contracts but faces concerns about GPU market oversupply

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