PANews reported on March 4 that CoreWeave, an AI company that works closely with Bitcoin mining company Core Scientific, submitted an IPO application today, with an expected financing of $4 billion and a valuation of over $35 billion. The prospectus shows that the company achieved $1.9 billion in revenue in 2024, but due to AI-related investments, it suffered a net loss of $863 million. The company's cumulative losses have now reached $1.5 billion. CoreWeave has invited Core Scientific to assist in the construction of a 500 megawatt (MW) AI infrastructure. When CoreWeave was still engaged in Ethereum mining, the latter was the former's largest GPU supplier.