Nvidia-backed CoreWeave targets $26 billion valuation in AI IPO test

Quick Summary:

CoreWeave said on Thursday it was targeting a valuation of up to $26 billion in its U.S.initial public offering, as the Nvidia-backed startup bets on strong demand for generative artificial intelligence.

Morgan and Goldman Sachs are leading a syndicate of Wall Street banks underwriting the offering.

IPO market has struggled to regain momentum after a near three-year slump, with still high interest rates and economic uncertainty keeping many companies on the sidelines.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Demand Startup Data Nvidia Offering Generative Public Million Billion Coreweave Firms

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-20 @ 19:32:32 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 422 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 27191064

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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