# Coreweave

CoreWeave, Inc. is an American cloud-computing company founded in 2017 as Atlantic Crypto, pivoting from cryptocurrency mining to AI infrastructure, and went public in March 2025.

CoreWeave, Inc. is an American cloud-computing company headquartered in Livingston, New Jersey. Founded in 2017 as Atlantic Crypto, it initially operated as a cryptocurrency mining company before pivoting to provide cloud-based graphics processing unit (GPU) infrastructure for artificial intelligence (AI) and enterprise workloads. The company went public on the Nasdaq in March 2025 under the ticker symbol CRWV.

## History

### Origins and pivot (2017–2021)
CoreWeave was founded in 2017 by Michael Intrator, Brian Venturo, Brannin McBee, and Peter Salanki, all former commodities traders. The company began as Atlantic Crypto, mining ethereum using GPUs. Following the 2018 cryptocurrency crash, the founders renamed the company CoreWeave in 2019 and leveraged their existing GPU inventory to offer cloud computing services to external clients.

### Growth and AI focus (2022–2023)
In 2022, CoreWeave invested approximately $100 million in Nvidia's H100 chips, positioning itself as an early provider of high-performance AI infrastructure. The company launched an accelerator program in October 2022, offering startups compute credits and hardware discounts. As demand for AI processing surged, CoreWeave expanded its data centers, installing 6,000 miles of fiber-optic cabling in 2023. In April 2023, Nvidia invested $100 million in the company, valuing it at around $2 billion. In August 2023, CoreWeave secured a $2.3 billion debt financing facility backed by H100 GPUs as collateral, a first-of-its-kind deal led by Magnetar Capital and Blackstone.

### Expansion and public offering (2024–2025)
In May 2024, CoreWeave raised $1.1 billion in funding led by Coatue Management, valuing the company at $19 billion. Later that year, Cisco invested at a $23 billion valuation, and the company secured a $650 million credit line. CoreWeave announced plans to invest $978.6 million in U.K. data centers. In June 2024, its $1 billion offer to acquire high-performance computing vendor Core Scientific was rejected. By November 2024, CoreWeave was among the first cloud providers to receive Nvidia's Blackwell hardware, and it closed a $650 million secondary share sale. The company filed its Form S-1 in March 2025 and went public on March 28, 2025, raising $1.5 billion, the largest AI-related initial public offering at the time. In July 2025, CoreWeave became the first company to deploy Nvidia's Blackwell Ultra GPUs commercially, with Dell providing servers. The company also agreed to acquire OpenPipe and Monolith AI in September and October 2025, respectively.

### Recent developments (2026)
In January 2026, Nvidia invested $2 billion in CoreWeave at $87.20 per share. In February, CoreWeave sought $8.5 billion in new financing using AI infrastructure contracts with Meta Platforms as collateral. In April 2026, CoreWeave announced a multi-year agreement with Anthropic to provide GPU capacity for Claude inference workloads, alongside an upsized $3.5 billion convertible notes offering and a $21 billion expansion of its Meta partnership. The company reported first-quarter 2026 revenue of $2.08 billion, exceeding analyst expectations, with a revenue backlog nearing $100 billion. As of June 30, 2026, CoreWeave reported total debt of approximately $35.1 billion, split between recourse and non-recourse facilities.

## Key people and employees

As of 2025, CoreWeave had approximately 1,450 employees. Michael Intrator serves as chief executive officer, Brian Venturo as chief strategy officer, Brannin McBee as chief development officer, and Peter Salanki as chief technology officer. Nitin Agrawal joined as chief financial officer in 2024, Sachin Jain as chief operating officer, and Chen Goldberg as senior vice president of engineering. Michelle O'Rourke was named chief people officer in October 2024.

## Operations

CoreWeave operates data centers across the United States and Europe, with some facilities dedicated to single clients and others shared. The company provides GPU infrastructure for AI training and inference, serving clients such as Microsoft, Meta, OpenAI, and Anthropic. Its business model involves long-term contracts with hyperscalers, which also underpin its debt financing structures.

## See also

- [artificial-intelligence](https://www.wikiprompt.org/wiki/artificial-intelligence)
- cloud-computing
- [nvidia](https://www.wikiprompt.org/wiki/nvidia)
- [microsoft](https://www.wikiprompt.org/wiki/microsoft)
- [openai](https://www.wikiprompt.org/wiki/openai)
- [anthropic](https://www.wikiprompt.org/wiki/anthropic)
- meta-platforms

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Source: https://www.wikiprompt.org/wiki/coreweave
License: CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0/)
Last updated: 2026-09-08T17:20:02.134509+00:00