CoreWeave co-founder and CEO Michael Intrator has seen his net worth surge to approximately $10 billion in the three months since the AI company went public.
The company’s debut marked the largest tech IPO of 2025, raising $1.5 billion, though it fell short of initial expectations; the founders had hoped to raise up to $4 billion but had to temper their ambitions.
CoreWeave presents a mix of success and uncertainty. It provides AI training and inference cloud services, supported by an increasing inventory of Nvidia GPUs. Nvidia is one of its investors, aiding in the acquisition of the sought-after, limited supply chips.
CoreWeave counts both Microsoft and OpenAI among its customers, with the latter signing a contract for $12 billion worth of services, and still has approximately $11 billion left to purchase. Furthermore, Nvidia increased its investment following the IPO, as revealed by the company.
However, CoreWeave relies on borrowed funds against the GPUs for financing their purchase, and the IPO did not break this cycle. As of March, the company reported around $8.8 billion in debt, with interest rates reaching 15%. Even after generating close to $1 billion in revenue for Q1 ($985 million), it posted a net loss nearing $315 million.
This situation hasn’t deterred investors, who remain keen on profiting from AI. CoreWeave’s stock has surged nearly 300% since its March IPO, boosting Intrator’s net worth over $10 billion.
The most remarkable aspect of Intrator’s journey, along with co-founders Brian Venturo and Brannin McBee, is that it all began as a quick-profit venture in crypto mining after their previous hedge fund faltered.
The partners transitioned from a small space filled with GPUs to thousands stored in a New Jersey warehouse, eventually engaging in AI training experiments with an open-source LLM group, EleutherAI, Venturo previously shared.
Today, the company services the leading players in the LLM sector and is reportedly looking to acquire its competitor Core Scientific, with its founders now billionaires. Notably, all three founders cashed out over $150 million each by selling shares prior to the IPO.
CoreWeave embodies the essence of the AI industry in 2025: rapid revenue growth and investor excitement fueled by an unquenchable demand for more resources.
CoreWeave declined to provide further comment.
