Asia Tech Wire (Nov 5) -- U.S. cloud services provider CoreWeave has selected Morgan Stanley, Goldman Sachs and JPMorgan Chase to prepare for an IPO next year, according to Bloomberg, citing people familiar with the matter.

Monday's report said preparations were underway and more banks could come on board.

Last month, news broke that Cisco Systems agreed to invest in CoreWeave, valuing it at $23 billion.

CoreWeave's investors include Nvidia, Magnetar Capital, Coatue Management, Jane Street, JPMorgan Asset Management and Fidelity.