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CoreWeave — Startup ProfileThe Essential Cloud for AI™HQ: Roseland, NJ, United States | Founded: 2017 | Employees: 2,500-3,000 | Stage: Public (NASDAQ: CRWV) | Website: https://www.coreweave.comAboutCoreWeave was founded in 2017 in Roseland, New Jersey as Atlantic Crypto by commodity traders Michael Intrator, Brian Venturo, and Brannin McBee, initially mining Ethereum in a New Jersey closet. As crypto winter hit, the founders repurposed their GPU fleet for cloud rendering and then AI training, securing early access to NVIDIA H100s via close ties to NVIDIA. By 2022-2023 the company branded as CoreWeave — The Essential Cloud for AI™ — offering bare-metal GPU access with InfiniBand networking, Kubernetes-native orchestration, and Mission Control observability at 30-40% better price-performance than general-purpose hyperscalers for AI workloads.CoreWeave operates a vertically integrated AI cloud: it owns the data center design, procures GPUs using infrastructure-backed debt where the GPKey Metrics

Market Cap at IPO: $23B (Mar 28, 2025, $40/share)

Current Valuation: ~$27B (2025)

Total Funding (Equity+Debt): $12.1B+ ($14.2B w/ IPO)

Revenue: $1.9B (2024) → $5.13B (2025)

Revenue Backlog: $66.8B (Dec 31, 2025)

GPUs Under Management: 250,000+ across 32 data centers

Funding Rounds

Round: $3M (2018-07-30) — Undisclosed

Round: $50M (2021-11-10) — Magnetar Capital

Round: $221M (2023-04-20) — Magnetar Capital

Round: $2.3B (2023-08-03) — Magnetar Capital, Blackstone

Round: $642M (2023-12-04) — Fidelity Management, Magnetar Capital

Key People

Michael Intrator

Brian Venturo

Brannin McBee

Nitin Agrawal

Key Competitors

Lambda Labs —

Nebius (ex-Yandex N.V.) —

Amazon Web Services (AWS) —

Microsoft Azure —

Timeline Highlights

2025-03-28: IPO on Nasdaq (CRWV) raises $1.5B at $23B

2025-03-04: S-1 filed: $1.9B 2024 revenue, Microsoft 62%

2024-05-01: $1.1B Series C at $19B + $7.5B Blackstone debt

2023-08-03: $2.3B debt + $221M Series B at $2B valuation

2022-01-01: Pivot to AI cloud as CoreWeave