CoreWeave CEO Becomes Deca-Billionaire in 3 Months

CoreWeave CEO Sees Net Worth Surge to $10 Billion

Michael Intrator, co-founder and CEO of CoreWeave, has experienced a substantial increase in his net worth, reaching approximately $10 billion within the last three months following the company’s initial public offering (IPO), as reported by Bloomberg.

IPO Performance and Company Overview

The company’s market debut represented the largest tech IPO of 2025 to date, successfully raising $1.5 billion. However, initial expectations were higher, with projections reaching up to $4 billion, necessitating a scaling back of ambitions.

CoreWeave presents a unique profile, demonstrating both success and potential vulnerabilities. It specializes in providing cloud services for AI training and inference, leveraging an expanding inventory of Nvidia GPUs.

Key Partnerships and Investments

A significant investment in CoreWeave comes from Nvidia itself, facilitating access to the highly sought-after and often scarce chips.

The company boasts prominent clients including Microsoft and OpenAI. OpenAI has committed to purchasing $12 billion in services, with approximately $11 billion remaining to be fulfilled.

Furthermore, Nvidia increased its ownership stake in CoreWeave following the IPO, as the company disclosed.

Financial Status and Debt

CoreWeave finances its GPU acquisitions through borrowing, and the IPO proceeds were insufficient to break this cycle. As of March, the company held approximately $8.8 billion in debt, subject to interest rates as high as 15%.

Despite generating nearly $1 billion in revenue during the first quarter of the year ($985 million), CoreWeave reported a net loss of around $315 million.

Investor Confidence and Stock Performance

Despite the reported losses, investor interest remains strong, driven by the potential of the AI market. CoreWeave’s stock price has increased by nearly 300% since its March IPO, contributing to Intrator’s rise to a net worth exceeding $10 billion, according to Bloomberg’s calculations.

From Crypto Mining to AI Powerhouse

The origins of CoreWeave, along with those of co-founders Brian Venturo and Brannin McBee, are rooted in a previous venture focused on cryptocurrency mining, initiated after the failure of their hedge fund.

The partners transitioned from a small collection of GPUs to a large-scale operation housed in a New Jersey warehouse, eventually experimenting with AI training in collaboration with the open-source LLM group, EleutherAI, as previously shared with TechCrunch.

Current Position and Future Prospects

Currently, the company serves major players in the Large Language Model (LLM) space, and reports suggest a potential acquisition of competitor Core Scientific. The founders have also realized significant financial gains, each cashing out over $150 million in shares prior to the IPO.

CoreWeave embodies the characteristics of the AI industry in 2025: substantial revenue growth and enthusiastic investor support fueled by a continuous demand for increased resources.

CoreWeave declined to provide further commentary.