CoreWeave’s initial S-1 document for its upcoming IPO is full of surprises. Backed by Nvidia, CoreWeave runs an AI-specific cloud service from its network

(CRWV) is rapidly growing and producing high operating profits, seeking to raise possibly more than $3 billion in an IPO. The company specializes in AI an

Given that cloud giants and other tech companies are currently scrambling to obtain AI compute capacity, CoreWeave has enough leverage to impose this kind of arrangement. If the company is forced to move to a pay-as-you-go model without multiyear customer commitments, its revenue would become much less predictable.