CoreWeave, a cloud as a Service company focused on artificial intelligence, successfully completed its initial public offering (IPO), raising $1.50 billion at a price of $40 per share, valuing the company at about $23 billion. Due to the downturn in the stock market, the company reduced the size of the IPO from the original planned 49 million shares ($47-55 per share) to 37.50 million shares.
AI giant Nvidia, as an investor in CoreWeave, took a stake worth $250 million in the IPO, strengthening its holding in the AI Cloud as a Service company. CoreWeave has deep ties to bitcoin miner CoreScientific, following a multi-billion dollar partnership agreement to enhance CoreScientific's AI capabilities. It is worth noting that Nvidia's share price has fallen by 12% this year, reflecting the weakness of the overall AI sector.
CoreWeave completes IPO at $40 per share, raising $1.50 billion
2025-03-28 00:21:19
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