CoreWeave rises above IPO price on 3rd trading day
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Reuters |
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 ...
Business Insider |
The lackluster start was particularly disappointing for Nvidia, which had invested $250 million in CoreWeave shares at the IPO price of $40 per share.
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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 initial public offering, which started trading today, had a rocky path to the market but delivered a windfall to Magnetar Capital. The investor bet big on the AI data center startup but presciently protected itself from the risk of big losses.
Analysts break down initial thoughts on the CoreWeave IPO, which priced below an anticipated range after its IPO.
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.
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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.
CoreWeave's stock plunged nearly 10% on Monday, dropping below its IPO price, raising concerns about AI-focused IPOs in a volatile market.