AI firm CoreWeave's stock surge makes CEO a billionaire
CoreWeave, an AI cloud company, saw its stock jump nearly 300% after its March 2025 IPO—going from $40 to about $90.24 per share.
The company's value now sits near $77 billion, and CEO Michael Intrator's net worth reached $10.3 billion just two weeks after the listing.
CoreWeave's revenue expected to hit $5B this year
CoreWeave rents out NVIDIA GPUs for AI projects and is growing at breakneck speed.
In Q1 2025, revenue shot up 420% year-on-year to $982 million—well above expectations.
CoreWeave expects full-year revenue between $4.9 and $5.1 billion as it races to meet surging AI demand.
AI infrastructure is the hottest investment theme right now
This blockbuster IPO highlights just how hot the market is for AI infrastructure right now—CoreWeave is now among Nasdaq's top 30 IPOs of the year.
Co-founders Brian Venturo and Brannin McBee hold shares worth billions ($6.4B and $4.7B), while early backers Leslie Wexner and Jack Cogen also scored big with stakes valued at nearly $3B each.