CoreWeave jumps on 3rd day of trading
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CoreWeave generated about $1.92B in revenue in 2024, up 700% year-over-year.
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CoreWeave's public offering also served as a major test for an IPO market that has largely dried up since early 2022 as inflation and rising interest rates deterred investors from riskier bets.
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Artificial intelligence startup CoreWeave's shares were up 17% at $43.50 on their third day of trading on Tuesday, above their initial public offering price of $40. On Friday, the Nvidia-backed stock debuted for trading at $39,
CoreWeave co-founder Brian Venturo knows that three hedge fund guys, turned crypto miners, now running AI training infrastructure has been a wild ride.
CoreWeave's IPO debut tests neocloud viability and reliance on Nvidia GPUs.
CoreWeave's debut has been eagerly awaited by investors as a sign of the strength of the AI trade as well as the appetite for new IPOs.
The cloud computing company’s cofounder Brannin McBee spoke to Forbes about the “important milestone” as shares started trading Friday.
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CoreWeave's stock plunged nearly 10% on Monday, dropping below its IPO price, raising concerns about AI-focused IPOs in a volatile market.
CoreWeave reduced the size of its U.S. initial public offering and priced its shares below the indicated range, the company said on Thursday, dampening expectations that the listing would boost investor appetite for IPOs.
A cloud computing provider specializing in GPU-accelerated AI infrastructure, CoreWeave saw tepid demand for its highly publicized IPO underscoring the notion that timing is critical in the IPO market. But the broader message has implications for AI giants like Microsoft and NVIDIA.
Concerns sparked by CoreWeave's debt pile and other financial challenges may weigh on retail investor enthusiasm as it prepares to go public after what analysts said was a poorly timed IPO.