Overview

• CoreWeave has acquired AI developer platform Weights & Biases for $1.7 billion, enhancing its cloud services with tools used by major tech firms like OpenAI and Meta.
• The acquisition is expected to close in the first half of 2025, pending regulatory approval, and positions CoreWeave to offer end-to-end AI development solutions.
• CoreWeave filed for an IPO with plans to raise $4 billion, aiming for a valuation exceeding $35 billion, following a 737% revenue increase to $1.9 billion in 2024.
• The company reported significant financial risks, including $863 million in net losses last year and heavy reliance on Microsoft, which accounted for 62% of its 2024 revenue.
• Founded in 2017 as a crypto mining firm, CoreWeave pivoted to AI infrastructure in 2019 and now operates 32 data centers with over 250,000 GPUs.