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Coreweave Presentation

CoreWeave is preparing for an initial public offering (IPO) with 494 million shares, primarily for working capital and corporate purposes, including product development and loan repayment. The company specializes in AI workloads, offering a cloud platform optimized for performance and efficiency, and has secured significant deals with major clients like OpenAI. CoreWeave's acquisition of Weights & Biases aims to enhance its technology stack and customer base, driving further innovation in AI infrastructure.

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3K views30 pages

Coreweave Presentation

CoreWeave is preparing for an initial public offering (IPO) with 494 million shares, primarily for working capital and corporate purposes, including product development and loan repayment. The company specializes in AI workloads, offering a cloud platform optimized for performance and efficiency, and has secured significant deals with major clients like OpenAI. CoreWeave's acquisition of Weights & Biases aims to enhance its technology stack and customer base, driving further innovation in AI infrastructure.

Uploaded by

tyler
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1G CoreWeave: PoweringAl Innovation Safe Harbor Disclaimer ‘Spr io aetna SS res cobrmtaroenaioaestare Se corner tan ater quate ees a Sore —— ee nemo eee et cinta tas ct ean bapa fae cry ca Sa ha Sige Peugeot, ise aureus eran Sab as ue | Offering Summary Coreweave. re March27,2025 (CRWV/NASDAQ Iriel Puble Otering SECregiteredonFormS- ‘494M shares (47 26M Primary. SMM Secondary), not including 15% greershoe (allpimary) Primenly working capita nd other general corporate purposes which may include product development, general and administrative matters and capital expenditures) repayment of the entre outstanding amount under our2024Term Loan Facilty: to satisfy anticipated taxwithhoicing andrarnttance obligations related to RSUnet settlement approximately $500 millon heldas restrictedcash nescrowto secure our obligations under our DDTL2 OFacilty: nd forthe acquistionof orinvestmentin, technologies, solutions, or businesses that complement CoreWeave ‘847 - $55 pershare of Class ACommonstock 1536 (Primary) If stockisat east 2596 above offerprice forat least S trading days inany 10-day consecutive wading day period including atleast one day occurring after the frst earings rslaate post-IPO, employees excluding dractors and founders) cansell up 10 5% of Class A common stockneldion secondivading day postinial eaningsrelease. Tis includes Common Stock and other secuties convertibeinto or exercisable or exchangeable or Common Stock. Remaining shares willbe released onthe eatler of seconditreding day post second esmings elease or180 daysafterthe dateot the prospectus, Morgan Staney..P. Morgan, Goldman Sache & Go. LC Barclays, Citigroup, MUFG, Deutsche Bank Secuties, Jefferies, Mizuho, Wells Fargo Secures, BotASecurtios Guggenheim Secures. M Klein & Company, Macquarie Capital, Needham & Company, Santander, Stifel, Galaxy Digital The Al Hyperscaler ic (CH CoreWeave Cer eeng CoreWeave: The Al Hyperscaler" [cloud Platform for Al Workloads Among with Highy Pertorment infrastructure at Seale Jat Multiple Layers of Our Technology Stack Serving Some of the JAI Labs and Al Enterprises Operating at the Jot Technology Systematic Approach tof SIEM 2(0) aR OLIN ae See RN) Parallelized Workloads are Fundamentally Different Today's traditional cloud compute platforms are not optimized for the parallelize _ = e,? oe? 2. @,° 6° workloads of Al _ Generative vPeana bug andAgenteal Rendering owceveny racer Single CripFeee ca ErtroJob Fas Massive Waste of Compute Resourect _ Al Workloads Require a New Architecture Generalized Cloud Computing Platform ‘Operating Sytem (Host 0S) Horaare orem Limitations of Generalized Clouds for Al Applications Unnedsystemiabity om pieventatectenontohg (Genera purpose serfces degrade perfomance and BetyptealynotrequrestorA ‘egtede perfomance Legacy hrawere srentectre goneraly doesnot celverrequiedpertormance e936) dsiacenie’softencaot aceonmodatepower wdcocingrequvements The CoreWeave Cloud Platform is Built for Al at Multiple Layers of the Technology Stack Specialization in Depth Accelerating raningondinference Perfomance optimaations ong the tettommarst wth cuting-exge advancements ightroughut networkng and accelerated storege + Alon andeompossbity + Ovcheststionandschedulagbutfthighpetormance z lsimze GPU rackpowerethciency Incorporatelideoolng whee apprapeate + Automationandtalureproventonat scale + Deepinsightsincointrastuctureheatn + Cohesvelybrings together multpielayersofthestack eer sat Pending Acquisition of Weights & Biases Expected to Enhance Our Tech Stack, Grow Our Customer Base, and Drive Innovation” Announced March 4, 2025 Expand Technology Stack Grow and Diversify Customer Base Supercharge Innovation Advances ourobjective of enabling mVicights& Blaseshas ientsacrossAl-native Ml Weights Biases'strongteamand customers tobying Alinnovations to eae platformaccelerates bulld-cut of market faster peel teeelehe ated CoreWeave's software capabilities Intemational clients 'm Plugsinto the CoreWoave Cloud Piatform: 1m Combined team dedicated to customer weexpecttootfer customers more mM AIResearchersactossacademiaandindustly success unique features that enable therntorun ea Wolgce laces Harton) eet ae ee Bothtaning nerencemere etna satoechomsoruntento aeatietaduencis0" see) 'm Expands functionality toinetude os ° engineers agcitionslmacelmonitorng capabilties cross-sell compute services to Weights & andapolication development worktiows Biases’ diverse customerbase while driving incremental automation m Weights & Biases possessesinsights nto tools and pracesses beingutizedby customers 1 Unlocks waysforcustomers tose their hardware mere efticiently CH CoreWeave + Weights & Biases Superior Infrastructure Performance And Efficiency CoreWeave Helps Bridge the MFU Gap CoreWeave Delivers Benefits Across the AlLifecycle Cloud Software Advantage 3.1IMM 50% 020% {ek cee ca oe 1 (enetalzed Coudprovaer | Ability to Build Infrastructure in Highly Performant Configurations Quickly and Efficiently >250K -360MW. 8200 2024 2024 >53K ?-70MW H200 2028 2025 aS ° ~10MW H100 202 CoreWeave's Ability to Deliver Bleeding- Edge Compute is Unparalleled in the Market At Massive Scale S OpenAl NVIDIA Blackwell Now Generally Availabe inthe Cloud $11.9BN Strategic Deal” A W NVIDIA CoreWeave | Our Geographically Distributed Footprint” 32 ~360MW 1.3GW Tecpogeet ype frendgrognetica || cuting-adge ie mana quccmrad Emteddeswcuty ‘ectunraurara Nuss Mestesee torsos “st noSla erp “Stare ary CoreWeave’s Cloud Infrastructure Flywheel: Continuous Optimization at Scale | CoreWeave Serves the Key Providers of Al” Focus for Compute Organizations bulding Al systems that are massiveusersof Alcompute Upon Closing, to Be Served Through Weights & Biases” + Large client base across F500 enterprises ‘and Alnative organizations + Large base of Alresearchers across academia and industry onthepiatform + Opportunity to cross-sell compute services to Weights & Biases diverse customerbase over time OpenAl Deal Underscores CoreWeave’s Market Leadership CU CoreWeave GOpenAl ‘© CoreWeave announced $11, 98N strategic deal with Opendl ‘on March 10°), which includes $350MMin CoreWeave stock andaligns two Alleaders ‘© CoreWeave Cloud Platformto deliver Al infrastructure at scaleto support Openal's global offerings © CoreWeave willprovide its scalable andhigh-performance cloud platform to enable Opendito trainand deliver its latest models at scale toltshundreds of millions of users around the world ‘© Thisdeal underscores CorelWeave's proven ability to deliver reliable and performant infrastructure services, powering Al Innovations for world-leading Al adopters ‘© With the adition of OpenAl, CoreWeave gains another marquee Alleader, diversinesits customer base, and extendsits average contract duration ‘The CoreWeave Advantage: Why WeWin Proprietary software and cloud services architectedto optimize for theneeds of Al Bleeding-edge infrastructure deliveredreliably and rapidly at massive scale, accelerating speed to market © Provenapilty to deploy helatest and greatest chips ‘and high-performance networking fabrics to drive the next frontier of training andinference @ Provennigher GPU efficiency at cluster scale elativeto Industry benchmarks to bridge the MFU gap ‘Strength of talent, anda cultural willingnessto say yes tothe toughest engineering challenges | Track Record of Expansion with Our Customers Advance with New Compute: Customer B Land + Expand: Customer A") “iparsuinnenSomacttormoreconputaespacty {ohovencessngwonione semana Tovvetetaeing0008 ss12500+ +seprdon —— — “ow ces sErpenion == = = u | Operating at the Bleeding Edge: Team with Track Record of Execution Recent Additions to Leadership CoreWeave is Well Positioned to Capture Massive and Rapidly Expanding Al TAM $154BN AlApplications TAM $330BN Training Infrastructure BN Inference Infrastructure Workload Monitoring 2023 2024 2025 2026 2027 2028 Financial Highlights Nitin Agrawal CoreWeave’s Unique Combination of Scale, Hypergrowth, and Margins" Upto $11.9BN Deal Significant Revenue Visibility & Strong Unit Economics” [el 2 le ~4-Year Take-or-Pay 96% Welanes arsed Contracts 2024 Revenue from Committed @ © ~15-25% ~2.5-Year Typical Weighted-Average PaybackPeriog Prepayment Contract Mechanics Lead to Strong Unit Economics & Attractive Opportunities to Re- Contract Infrastructure Lifeota contract Years 2Years+ Cemmctines © siewyswerwome @ Nelo ve @ manus poy a « Mamrsinestucacan” ? @ RPO Growth Driven By Committed Take- or-Pay Contracts for Al Compute Comienn oineda tei wagnoeteoer YoYGrowth% 53% if 3151 Dp ee 0 petiod, gnennatureof committed contract business nd sizeof contracts $9.9 $8.2 (© RPOmayincreasecr decreaseina given Remaining Performance Obligations (RPO) sx $4.1 6 quarter depending onnewbusiness that has been signed and revenue recognized fromexisting contracts 59% 46% 2023 2024 Recognizedinmonths!- __m Recognizedinmonths 25+ 24 Unpacking the CoreWeave Model” + Netproperty and soWot contracted owervs, s6oMW activepower SIS,1ENRPO + RPOIncreasesas signedand decreases as recogrizedon exsting contracts RPO growthof $5.28Nin2024 (-53% growth YoY) ‘equipment{‘net PREIessCIP measured $8.72 asof 2/3124, impiyingaratioot ‘quarteryreverueto netPREOH 9%, oF 34% annuaizes + Aswe investinour platform, wo expect ‘ourasset base will ‘grownetof

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