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Nvidia-backed CoreWeave prepares for 2026 IPO at $23 billion valuation
CoreWeave eyes 2026 IPO after posting 420% YoY revenue growth and building a $2.3 billion backlog.
CoreWeave, the Nvidia-backed AI cloud infrastructure provider, is preparing for a 2026 IPO at an estimated valuation of $23 billion after raising over $12 billion in funding. The company reported Q3 2025 revenue of $981 million, up 420% year-on-year, with a contracted backlog of $2.3 billion driven by GPU demand. The listing could reshape hyperscaler competition in AI compute markets.