Data centre operator CoreWeave will seek to raise as much as $2.7bn in a US initial public offering that is expected to be the largest tech listing of the year, according to people close to the matter.
The New Jersey-based start-up would kick off a roadshow with investors to generate interest for its shares as soon as this week, the people said. It will ask investors to pay $47 to $55 per share, selling 49mn shares at the IPO.
Bankers for the company had initially discussed whether the IPO could seek to raise as much as $4bn and had discussed valuing the business at more than $35bn. The group plans to list on the Nasdaq under the ticker CRWV. Reuters first reported the proposed share price range.