CoreWeave is targeting a valuation of up to $32 billion on a fully diluted basis in its U.S. initial public offering, as the Nvidia-backed startup bets on strong demand for generative artificial intelligence.

CoreWeave, the artificial intelligence (AI) start-up company that has received substantial backing from chipmaker Nvidia (NVDA), has set the

Nvidia GPU and AI startup CoreWeave sets IPO at $51 per share, 47 million shares for market value of $2.7 billion with OpenAI and Microsoft benefiting.