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CoreWeave, a cloud computing provider that evolved from a cryptocurrency mining company, has reached a valuation of $23 billion following its IPO filing. The founders, who initially focused on mining Ethereum, have reportedly cashed out nearly $500 million prior to the public offering. This move has sparked mixed reactions among investors, with some perceiving the sales as a potential warning sign, while others view it as a vote of confidence in the company's future. The founders' transition from commodity trading to selling computing power has also been highlighted as a significant aspect of their business strategy, particularly in the context of the growing intersection between cryptocurrency and artificial intelligence.
CoreWeave Founders Cashed Out Nearly $500 Million Before IPO Investors are divided on CoreWeave's founder share sales. Some see it as a red flag, while others see it as a vote of confidence. Explore the different viewpoints: https://t.co/FZwFiShWpL #investing
CoreWeave Founders Cashed Out Nearly $500 Million Before IPO These share sales are unusually high for startup founders before an IPO. 🤨 What does this mean for CoreWeave's future? Get the inside scoop: https://t.co/FZwFiShWpL #startups
From stockpiling Nvidia chips to selling computing power: how these former commodity traders have already made a bundle from CoreWeave, which just filed to go public. (Photo: Carlos Rodrigues/Sportsfile for Web Summit via Getty Images) https://t.co/rFKb4eJjgv https://t.co/pa6LHcj4L4