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.

CoreWeave, the artificial intelligence (AI) start-up company that has received substantial backing from chipmaker Nvidia (NVDA), has set the

CoreWeave said on Thursday it was targeting a valuation of up to $26 billion in its U.S. initial public offering, as the Nvidia-backed startup bets on strong demand for generative

Of course, Nvidia GPUs are the industry standard in accelerating AI applications in the data center. So, any decrease in AI infrastructure spending would be bad news for the company. CEO Jensen Huang addressed those concerns this week during his keynote speech at GTC, an annual developer conference focused on AI.