CoreWeave Raises $1.5 Billion in IPO, Valuing Company at $23 Billion
CoreWeave raised $1.5 billion for its IPO, valuing the company at approximately $23 billion.
- The firm sold 37.5 million shares at $40 each.
- Initial plans included selling 49 million shares at $47 to $55 each.
- Market conditions led to the downsizing of the IPO.
- Nvidia is anchoring the IPO with a $250 million order.
- CoreWeave is connected to bitcoin miner CoreScientific, which has a multi-billion deal to enhance AI capabilities.
- Nvidia's stock has decreased by 12% this year amid broader weakness in AI-focused companies.