AI cloud provider CoreWeave files for IPO

Author

Noel Moldvai
March 06, 2025

TL;DR. AI IPOs are officially here, and the money is flowing—just ask CoreWeave’s founders, who have already pocketed $488 million ahead of their public debut. Meanwhile, TSMC is doubling down on U.S. chipmaking with a $100 billion investment, and OpenAI is gearing up to charge a hefty premium for its new AI “agents.”

AI cloud provider CoreWeave files for IPO

CoreWeave has filed for an IPO under the ticker “CRWV.” The company reported a 700% revenue surge in 2024 to $1.92 billion but posted a net loss of $863.4 million. Microsoft accounted for 62% of its revenue, and CoreWeave holds over $15 billion in unfulfilled contracts. Operating 32 data centers with 250,000 Nvidia GPUs, it faces $8 billion in debt. Originally a crypto-mining firm, it pivoted to AI and cloud computing, gaining traction post-ChatGPT’s launch. Microsoft is both a major customer and competitor, as AI demand fuels intense competition in the GPU cloud space.

Trump, chip maker TSMC announce $100 billion investment in U.S.

Taiwan Semiconductor Manufacturing Co. (TSMC) announced plans to invest at least $100 billion more in U.S. chip plants, expanding its Arizona operations with three new factories, two packaging plants, and an R&D center. This brings its total U.S. investment to $165 billion. Trump touted the move as a national security win, citing tariffs as a driving force. The Biden administration has also pushed for domestic semiconductor production, supporting TSMC through the CHIPS Act with $6.6 billion in grants. Amid global concerns over Taiwan’s chip dominance, TSMC’s expansion aims to bolster U.S. AI and tech infrastructure.

OpenAI reportedly plans to charge up to $20,000 a month for specialized AI “agents”

OpenAI reportedly plans to charge up to $20,000 per month for specialized AI “agents” tailored for tasks like sales, software engineering, and research. A high-income knowledge worker agent may cost $2,000, while a developer agent is priced at $10,000. SoftBank has committed $3 billion to these products, as OpenAI faces significant financial losses.

Nvidia-backed cloud firm CoreWeave to acquire AI developer platform Weights & Biases

Nvidia-backed CoreWeave is acquiring AI developer platform Weights & Biases to expand its cloud platform ahead of its IPO. The deal, reportedly worth $1.7 billion, integrates CoreWeave’s infrastructure with Weights & Biases’ AI model training tools used by OpenAI and Meta. CoreWeave, aiming for a $35 billion valuation, recently reported surging revenue.

AI’s next top model: Deepseek vs. OpenAI vs. Anthropic vs. xAI

Join us on March 6 at 12 PM PT / 3 PM ET for the first session of our deep-dive livestream series with Sacra. Augment co-founder Noel Moldvai will host Sacra's research lead and co-founder, Jan-Erik Asplund, for an in-depth look at the top AI companies.

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