CoreWeave announced on Wednesday its plans to offer its initial public shares at a price range of $47 to $55 per share, which could potentially generate between approximately $2.2 billion and $2.6 billion in funding.

Rumors suggest that CoreWeave initially aimed to raise a minimum of $3 billion, with the possibility of exceeding $4 billion.

However, it’s worth noting that the announced price range is often strategically set lower than the company’s actual expected valuation. This tactic allows the company to later set a higher price, creating a sense of excitement and demand among retail investors by implying that institutional investors were willing to pay a premium.

Only time will tell if CoreWeave can secure over $3 billion in funding. Since filing for its public offering, the company has made significant strides, including signing a $12 billion partnership with OpenAI and appointing Meg Whitman to its board of directors.