According to Golden Finance, cloud computing provider CoreWeave submitted an initial public offering (IPO) application today. The company is expected to raise $4 billion, with a valuation of more than $35 billion. The company had revenue of $1.9 billion in 2024, but suffered a net loss of $863 million due to its investment in the field of artificial intelligence, the document shows. Currently, the company has accumulated losses of US$1.5 billion. Originally called Atlantic Crypto, CoreWeave was founded in 2017 and initially provides infrastructure for Ethereum mining. As the price of digital currencies fell, the company acquired more GPUs and changed its name to CoreWeave, gradually shifting its focus to the fields of graphics rendering and artificial intelligence (AI).