CoreWeave shares bounce 12%, rising above IPO price

CoreWeave shares bounce 12%, rising above IPO price


Mike Intrator, Chief Executive Officer and founder of CoreWeave, (C) rings the opening bell surrounded by Executive Leadership and family during the company’s Initial Public Offering (IPO) at the Nasdaq headquarters on March 28, 2025 in New York City. 

Michael M. Santiago | Getty Images News | Getty Images

CoreWeave shares rallied more than 10% on Tuesday and looked to bounce back from a lackluster second trading day on the public markets.

Shares of the artificial intelligence cloud company, which rents out access to Nvidia’s graphics processing units to other technology companies, dropped more than 10% on Monday and fell below the initial public offering price of $40. The stock opened at $39 on Friday and closed flat at $40.

CoreWeave opened on the public markets Friday in the biggest venture-backed tech IPO for a U.S. company since 2021. It served as a key test for a public offering market that came to a near standstill about three years ago in the face of high inflation and rising interest rates that shunned technology investors

Many hoped that CoreWeave would usher in a more favorable period for IPOs as companies such as ticket reseller StubHub, Klarna and Hinge Health join a mounting list of names readying in the wings.

CoreWeave’s disappointing performance has failed to lift investor confidence.

Markets have also sold off against a backdrop of macroeconomic uncertainty spurred by President Donald Trump’s tariff agenda. CoreWeave lowered its offering price to $40 last week from an initial expected pricing range of $47 to $55 range. The company also downsized the offering to 37.5 million shares from 49 million.

CEO Mike Intrator told CNBC’s “Squawk Box” on Friday that the company had to “scale or rightsize the transaction for where the buying interest was” against a backdrop of macroeconomic headwinds.

The company, which counts Microsoft as its largest customer, last hovered near a $19 billion market capitalization. Its most significant competitors include Microsoft, Amazon, Google and Oracle.

In its prospectus filed in March, the company reported a net loss of $863 million. CoreWeave said revenue grew more than 737% last year to $1.92 billion.



Source

Tesla’s IPO was 15 years ago. The stock is up almost 300-fold since then
Technology

Tesla’s IPO was 15 years ago. The stock is up almost 300-fold since then

CEO of Tesla Motors Elon Musk waves after ringing the opening bell at the NASDAQ market in celebration of his company’s initial public offering in New York June 29, 2010. Brendan McDermid | Reuters At the time of Tesla’s IPO 15 years ago, the company had generated roughly $150 million in revenue in its lifetime. […]

Read More
At 20 years old, Reddit is defending its data and fighting AI with AI
Technology

At 20 years old, Reddit is defending its data and fighting AI with AI

Reddit CEO Steve Huffman stands on the floor of the New York Stock Exchange (NYSE) after ringing a bell on the floor setting the share price at $47 in its initial public offering (IPO) on March 21, 2024 in New York City. Spencer Platt | Getty Images News | Getty Images For 20 years, Reddit […]

Read More
Stablecoins go mainstream: Why banks and credit card firms are issuing their own crypto tokens
Technology

Stablecoins go mainstream: Why banks and credit card firms are issuing their own crypto tokens

A $44 billion IPO. A Senate bill with bipartisan momentum. And now, a wave of Fortune 500 firms launching crypto tokens of their own. Stablecoins — once a niche corner of the cryptocurrency world — are entering the corporate and policy mainstream, potentially reshaping how money moves in the United States and around the world. […]

Read More