CoreWeave, Inc. is an American artificial intelligence (AI) cloud-computing company based in Livingston, New Jersey. It specializes in providing cloud-based graphics processing unit (GPU) infrastructure to AI developers and enterprises, and also develops its own chip management software. The company operates data centers in the United States and Europe, some dedicated to multiple clients and others to a single customer, and has become a key player in the AI infrastructure market.
Founded as Atlantic Crypto in 2017, CoreWeave initially focused on cryptocurrency mining before pivoting to cloud computing. It has since grown rapidly, securing major investments and contracts with leading AI companies, and completed a public listing in 2025. Its infrastructure supports large-scale Machine learning and Generative AI workloads, including those from OpenAI and Anthropic.
History
2017–2021
CoreWeave was founded in 2017 in New Jersey by commodities traders Michael Intrator, Brian Venturo, and Brannin McBee, along with Peter Salanki. Originally named Atlantic Crypto, the company mined ethereum using GPUs. After the 2018 cryptocurrency crash, it was renamed CoreWeave in 2019, leveraging its GPU inventory to offer cloud computing services to businesses.
2022–2023
By 2022, CoreWeave operated three data centers in the United States. In mid-2022, it invested about $100 million in Nvidia's H100 chips. In October 2022, it launched an accelerator program providing startups with compute credits and discounts. As demand for AI processing surged, CoreWeave's business grew, attracting clients like Stability AI. In 2023, technicians installed 6,000 miles of fiber-optic cabling. In April 2023, Nvidia invested $100 million, valuing CoreWeave around $2 billion by May. In August 2023, CoreWeave secured a $2.3 billion debt facility led by Magnetar Capital and Blackstone, using H100 GPUs as collateral, a first for such hardware.
2024
In May 2024, CoreWeave raised $1.1 billion led by Coatue Management, valuing it at $19 billion. In October 2024, Cisco was reported to invest, valuing the company at $23 billion, and CoreWeave secured a $650 million credit line led by Goldman Sachs, JPMorgan Chase, and Morgan Stanley. The company planned to invest $978.6 million in U.K. data centers. In June 2024, a $1 billion offer for Core Scientific was rejected. By November 2024, CoreWeave received Nvidia's new Blackwell hardware and closed a $650 million secondary share sale. Bloomberg reported plans for a 2025 IPO, and CoreWeave filed its Form S-1 in March 2025, listing on Nasdaq under "CRWV". Microsoft accounted for over 60 percent of 2024 revenue.
2025
In February 2025, CoreWeave became the first cloud provider to offer Nvidia GB200 NVL72 chips, which IBM used to train its Granite AI. In March, CoreWeave acquired AI platform developer Weights & Biases for about $1.7 billion and signed a five-year, $12 billion cloud contract with OpenAI, which also took a $350 million stake. The IPO was reduced from $2.7 billion to $1.5 billion, and CoreWeave went public on March 28, 2025, raising $1.5 billion, the largest AI-related listing by amount raised. In July, CoreWeave deployed Nvidia Blackwell Ultra GPUs (GB300 NVL72) commercially with Dell. A $9 billion acquisition of Core Scientific was rejected by shareholders in October. In September, CoreWeave agreed to acquire OpenPipe, and in October, Monolith AI.
2026
In January 2026, Nvidia invested $2 billion in CoreWeave at $87.20 per share. In February, CoreWeave sought $8.5 billion in financing using Meta Platforms contracts as collateral. In April, CoreWeave announced a multi-year agreement with Anthropic for Nvidia GPU capacity for Claude inference, priced a $3.5 billion convertible notes offering, and expanded its Meta partnership by $21 billion. In May, first-quarter revenue was $2.08 billion, exceeding expectations, with a backlog near $100 billion. As of June 30, 2026, total debt was about $35.1 billion.
Key people and employees
Headquartered in New Jersey, CoreWeave had around 1,450 employees as of 2025. Michael Intrator serves as CEO, with cofounders Brian Venturo as chief strategy officer, Brannin McBee as chief development officer, and Peter Salanki as CTO. In 2024, Nitin Agrawal joined as CFO from Google, Sachin Jain as COO from Oracle, and Chen Goldberg as senior VP of engineering from Google. In October 2024, Michelle O'Rourke was named chief people officer.
Infrastructure and technology
CoreWeave operates its own data centers in the U.S. and Europe, with a focus on GPU-accelerated computing for AI. Its $1.6 billion supercomputer data center for Nvidia in Plano, Texas, has been described by Nvidia as the fastest AI supercomputer in the world. The company provides cloud access to Nvidia's latest GPUs, including H100, GB200, and Blackwell Ultra, and develops software for chip management. Its infrastructure supports Deep learning and Large language model training and inference, serving clients like OpenAI, Anthropic, and Microsoft (AI).
Market position and partnerships
CoreWeave has positioned itself as a specialized alternative to major cloud providers like Amazon Web Services, Microsoft Azure, and Google Cloud, focusing exclusively on AI workloads. Its partnerships with Nvidia and major AI labs have driven rapid growth. The company's revenue model relies on long-term contracts, with a significant portion from Microsoft and Meta. CoreWeave's IPO in 2025 marked a milestone for AI infrastructure companies, and its subsequent acquisitions and financing rounds indicate continued expansion in the AI cloud market.