CoreWeave is targeting a valuation of up to $32 billion on a fully diluted basis in its U.S. initial public offering, as the Nvidia-backed startup bets on strong demand for generative artificial intelligence.
The listing is seen as crucial to the revival of a largely moribund U.S. IPO market, as well as a gauge for investor appetite for new entrants in a sector that has propelled stock markets to record gains over the past two years.
The cloud services provider and some of its investors are looking to sell 49 million shares priced between $47 and $55…