CoreWeave Shares Open at $39 Following $1.5 Billion IPO
CoreWeave (CRWV) debuted on Nasdaq at $39, slightly below its IPO price of $40 per share. The firm raised approximately $1.5 billion by selling 37.5 million shares, marking the largest tech IPO since 2021.
Key points include:
- Nvidia invested $250 million in the offering.
- The initial pricing range was set at $47 to $55 per share.
- Concerns exist regarding CoreWeave's high debt and reliance on a few customers.
- The current macroeconomic environment, including recent tariffs, may have impacted the IPO performance.
Analysts suggest that CoreWeave's performance could reflect broader trends in the AI sector amid growing doubts about returns on investment.