Askume, Sept 13 – Professional cloud services provider CoreWeave is in talks to sell existing shares that value it at $23 billion, Bloomberg reported on Friday, citing people familiar with the matter.
CoreWave is seeing a push toward faster enterprise adoption of generic AI technologies. It has partnered with AI startups and competitive cloud providers to build clusters to support AI workloads.
Nvidia (NVDA.O)-backed CoreWave is in talks over a deal that would allow existing shareholders such as employees to bid for shares worth $400 million to $500 million, Bloomberg said .
Terms have not yet been finalized and could still change, the report said, adding the move comes as the company considers an initial public offering that could happen as early as next year.
CoreWeave did not immediately respond to a Askume request for comment.
The company said in May that itis raising $7.5 billion in debt from financiers including Blackstone (BX.N) and Magnetar Capital to expand the scale of its infrastructure to meet growing artificial intelligence workloads.
In the same month, CoreWeave was valued at US$19 billion following Series C funding.
