CoreWeave, a cloud computing provider that’s among the hottest startups in the artificial intelligence race, is in talks to arrange a sale of existing shares valuing it at $23 billion, according to people with knowledge of the matter.

CoreWeave Inc. is negotiating a secondary sale will that enable investors to offload $400 million to $500 million worth of shares, Bloomberg reported today.

Cloud computing provider CoreWeave, among the hottest startups in the artificial intelligence race, is in talks to arrange a sale of existing shares, valuing it at $23 billion, Bloomberg News reported on Friday,

Nvidia-backed (NASDAQ:NVDA) artificial intelligence startup CoreWeave has nearly tripled its valuation in less than a year, and is now considering a share sale as it nears a potential initial public offering next year,

CoreWeave is in talks to sell existing shares in a deal that could value the company at $23 billion. Bloomberg reports that the company is in talks to allow existing shareholders, including employees, to tender between $400 million and $500 million worth of their holdings.

Nvidia-backed CoreWeave is in talks about a transaction that would allow existing shareholders such as employees to tender between $400 million and $500 million worth of their holdings, Bloomberg said.