CoreWeave, supported by Nvidia, is planning to raise up to $2.7 billion in its U.S. initial public offering, according to a filing by the AI startup. The company, which focuses on artificial intelligence cloud services, intends to sell 49 million shares at a price range of $47 to $55 per share. This IPO will serve as a significant indicator of interest in AI companies following recent developments in the market. Stock market volatility due to various factors such as tariffs and recession concerns may impact the IPO market's recovery. Earlier, CoreWeave secured an $11.9 billion contract with OpenAI for five years. This agreement involves OpenAI receiving company shares valued at $350 million through a private placement during the IPO. CoreWeave, which offers data center access and high-performance chips for AI tasks, plans to be listed on the Nasdaq under the symbol "CRWV." The offering is being underwritten by a syndicate of Wall Street banks led by Morgan Stanley, J.P. Morgan, and Goldman Sachs.