CoreWeave’s IPO Prep Kicks Into Gear; Is SpaceX’s Valuation Rational?

The big venture-backed initial public offering this week is a bit like meat and potatoes—it’s filling but not all that exciting. ServiceTitan, the Bessemer and Battery Ventures-backed software seller to electricians and plumbers, is expected to price its IPO Wednesday and begin trading on Nasdaq on Thursday with a market capitalization somewhere about $6 billion. 

Another near-future listing will be more like a fatty smashburger hyped by TikTok foodies. 

CoreWeave, the data-center upstart last valued at $23 billion, has been racing to confidentially file its IPO prospectus this week, I’ve learned. It’s an important step that would put it on track for an IPO around April of next year. Don’t expect a public filing until around March. (A CoreWeave spokesperson didn’t have a comment.)