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

CoreWeave Inc. is expected to guide prospective investors that its initial public offering has received orders for all of the shares available, according to people familiar with the matter.