{"id":24198,"date":"2025-03-18T08:00:32","date_gmt":"2025-03-18T09:00:32","guid":{"rendered":"https:\/\/medexperts.pro\/?p=24198"},"modified":"2025-03-18T09:25:04","modified_gmt":"2025-03-18T09:25:04","slug":"how-coreweave-went-from-crypto-mining-to-wall-streets-a-i-bellwether","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=24198","title":{"rendered":"How CoreWeave Went From Crypto Mining to Wall Street\u2019s A.I. Bellwether"},"content":{"rendered":"
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CoreWeave, which provides computing power for A.I., was founded by three Bitcoin enthusiasts. The company is now set to make the first prominent A.I. initial public offering.<\/p>\n

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In 2016, three New York commodities traders \u2014 Michael Intrator, Brian Venturo and Brannin McBee \u2014 fell in love with cryptocurrencies. They were using Bitcoin<\/a> to bet on pool games and fantasy football and were captivated by its wild swings in price.<\/p>\n

They soon decided to create more digital currencies<\/a> through a process called \u201cmining,\u201d which requires a lot of computing power. So they logged on to Amazon and ordered two Nvidia graphics processing units, or GPUs, powerful chips that can run calculations and analyze enormous amounts of data. They then stockpiled the components, filling up a garage and a warehouse.<\/p>\n

In 2017, Mr. Intrator, Mr. Venturo and Mr. McBee started the company Atlantic Crypto to mine cryptocurrencies. When crypto prices cratered two years later, they renamed the business CoreWeave and raised money to buy as many GPUs from distressed crypto miners as possible. Their bet: that the chips would eventually feed the development of artificial intelligence, whose creation also requires substantial computing power.<\/p>\n

They were right. When OpenAI released the ChatGPT<\/a> chatbot in 2022 and unleashed an A.I. frenzy, the demand for computing power exploded \u2014 and CoreWeave was in the sweet spot.<\/p>\n<\/div>\n<\/div>\n

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\u201cWe assumed this was going to happen,\u201d Mr. Intrator, 55, CoreWeave\u2019s chief executive, said in a 2023 interview with The New York Times. \u201cWe were well positioned for this transition.\u201d<\/p>\n

CoreWeave is now set to find out whether it is in the sweet spot again \u2014 this time with Wall Street. This month, the tech company filed paperwork<\/a> for a public listing. If its initial public offering of stock goes as planned, it will be the first prominent A.I. start-up to reach the stock market. And it would test investor appetite at a time when the market has slipped into a correction<\/a>, which could delay an offering.<\/p>\n

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CoreWeave, which provides computing power for A.I., was founded by three Bitcoin enthusiasts. The company is now set to make the first prominent A.I. initial public offering.In 2016, three New York commodities traders \u2014 Michael Intrator, Brian Venturo and Brannin McBee \u2014 fell in love with cryptocurrencies. They were using Bitcoin to bet on pool games and fantasy football and were captivated by its wild swings in price.They soon decided to create more digital currencies through a process called \u201cmining,\u201d which requires a lot of computing power. So they logged on to Amazon and ordered two Nvidia graphics processing units, or GPUs, powerful chips that can run calculations and analyze enormous amounts of data. They then stockpiled the components, filling up a garage and a warehouse.In 2017, Mr. Intrator, Mr. Venturo and Mr. McBee started the company Atlantic Crypto to mine cryptocurrencies. When crypto prices cratered two years later, they renamed the business CoreWeave and raised money to buy as many GPUs from distressed crypto miners as possible. Their bet: that the chips would eventually feed the development of artificial intelligence, whose creation also requires substantial computing power.They were right. When OpenAI released the ChatGPT chatbot in 2022 and unleashed an A.I. frenzy, the demand for computing power exploded \u2014 and CoreWeave was in the sweet spot.\u201cWe assumed this was going to happen,\u201d Mr. Intrator, 55, CoreWeave\u2019s chief executive, said in a 2023 interview with The New York Times. \u201cWe were well positioned for this transition.\u201dCoreWeave is now set to find out whether it is in the sweet spot again \u2014 this time with Wall Street. This month, the tech company filed paperwork for a public listing. If its initial public offering of stock goes as planned, it will be the first prominent A.I. start-up to reach the stock market. And it would test investor appetite at a time when the market has slipped into a correction, which could delay an offering.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.Thank you for your patience while we verify access.Already a subscriber?\u00a0Log in.Want all of The Times?\u00a0Subscribe.<\/p>\n","protected":false},"author":1,"featured_media":24200,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-24198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/24198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24198"}],"version-history":[{"count":2,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/24198\/revisions"}],"predecessor-version":[{"id":24201,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/24198\/revisions\/24201"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/media\/24200"}],"wp:attachment":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}