Tech giants like Microsoft (NASDAQ: MSFT) and Meta have been splurging on artificial intelligence (AI) accelerators and building out massive AI data centers but also have been relying on start-up CoreWeave to meet soaring demand for AI computing capacity.

CoreWeave’s initial S-1 document for its upcoming IPO is full of surprises. Backed by Nvidia, CoreWeave runs an AI-specific cloud service from its network

CoreWeave, Inc. ( CRWV) has filed to raise $100 million in an IPO of its Class A common stock, according to an SEC S-1 registration statement, although the final figure may be above $3 billion. CRWV provides various infrastructure services for GPU-intensive applications related to AI and other technologies.