CoreWeave CEO Michael Intrator sees net worth soar past $10B after the company’s IPO, fueled by AI cloud demand built on a crypto‑mining GPU backbone.
In the three months since CoreWeave went public, Michael Intrator, the co-founder and CEO of the AI firm, has seen his net worth soar to approximately $10 billion, according to Bloomberg.
The début of his company was the largest tech IPO of 2025, raising $1.5 billion. However, it was also somewhat disappointing, as its founders had reportedly hoped to raise $4 billion and were forced to scale back their ambitions.
CoreWeave continues to evoke a sense of both success and a house of cards. It provides cloud services for AI training and inference based on an increasing inventory of Nvidia GPUs. Nvidia is one of its investors, which helps it acquire scarce, high-demand processors.
Microsoft and OpenAI are both CoreWeave customers. The latter has signed a contract to purchase services worth $12 billion and has an additional $11 billion in services to buy. The company disclosed that Nvidia increased its stake following the IPO.
However, CoreWeave is unable to break free of this cycle as a result of the fact that it advances money against the GPUs to pay for them. As of March, it disclosed that it possesses approximately $8.8 billion in debt, with interest rates reaching 15%.
Even though it generated nearly $1 billion in revenue in Q1 alone ($985 million), it experienced a net loss of approximately $315 million.
This has not deterred investors, who are still enthusiastic about generating revenue through AI. Bloomberg estimates that CoreWeave’s stock has increased nearly 300% since its March IPO, resulting in Intrator’s net worth surpassing $10 billion.
However, the most extraordinary aspect of Intrator’s history and that of his co-founders Brian Venturo and Brannin McBee is that the entire endeavor originated as a crypto mining enterprise to generate revenue quickly after their previous company, a hedge fund, failed.
The business partners transitioned from a closet brimming with GPUs to a warehouse in New Jersey, where they stored thousands of GPUs. They also participated in an AI training endeavor with an open-source LLM group, EleutherAI, as Venturo previously disclosed to TechCrunch.
The company is currently providing services to the most considerable LLM powers on the planet and is reportedly in the process of acquiring its competitor, Core Scientific.
Additionally, the founders are billionaires. Additionally, as previously stated, it is not exclusively composed of paper money. Each of the three founders earned more than $150 million by selling their shares before the IPO.
CoreWeave continues to be a symbol of the AI industry in 2025, with investor enthusiasm and massive, rapidly increasing revenue stemming from an insatiable demand for additional resources.
