AI giant CoreWeave’s blockbuster IPO filing unveils a shocking detail; one customer drives more than 50% of its $1.9 billion revenue

Nvidia-backed CoreWeave is preparing for its IPO filing with an estimated valuation of $35 billion. The firm relies heavily on two customers for 77% of its revenues. Microsoft accounts for 62% of this. CoreWeave aims to address material weaknesses in its financial systems by 2026. The IPO will be the first major tech IPO of 2025.