CoreWeave Acquires Weights & Biases for $1.7 Billion Ahead of IPO

The Nvidia-backed cloud provider aims to strengthen its AI infrastructure offerings as it targets a $35 billion valuation in its upcoming Nasdaq debut.

CoreWeave has acquired AI developer platform Weights & Biases for $1.7 billion, enhancing its cloud services with tools used by major tech firms like OpenAI and Meta.
The acquisition is expected to close in the first half of 2025, pending regulatory approval, and positions CoreWeave to offer end-to-end AI development solutions.
CoreWeave filed for an IPO with plans to raise $4 billion, aiming for a valuation exceeding $35 billion, following a 737% revenue increase to $1.9 billion in 2024.
The company reported significant financial risks, including $863 million in net losses last year and heavy reliance on Microsoft, which accounted for 62% of its 2024 revenue.
Founded in 2017 as a crypto mining firm, CoreWeave pivoted to AI infrastructure in 2019 and now operates 32 data centers with over 250,000 GPUs.