CoreWeave said on Wednesday that it hopes to sell its initial public shares between $47 and $55 per share, putting the money it may raise between about

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 artificial intelligence.

CoreWeave Inc., a cloud-computing provider that’s one of the hottest startups in artificial intelligence, and some of its investors are seeking to raise about $2.7 billion in an initial public offering.