CoreWeave is targeting a valuation of up to $32 billion on a fully diluted basis in its U.S. initial public offering, as the Nvidia -backed startup bets on strong demand for generative artificial intelligence.

Data centre operator CoreWeave will seek to raise as much as $2.7bn in a US initial public offering expected to be the largest tech listing of the year, according to people close to the matter. The New Jersey-based start-up will kick off a roadshow with investors to generate interest for its shares as soon as this week,

CoreWeave, the artificial intelligence (AI) start-up company that has received substantial backing from chipmaker Nvidia (NVDA), has set the