From Yahoo Finance: 2025-04-02 10:47:00

CoreWeave’s stock (CRWV) surged 41% on Tuesday and rose 11% to $58.60 on Wednesday after its Nasdaq debut. The company priced its IPO at $40 a share, raising $1.5 billion for a valuation of $23 billion, lower than the planned $4 billion at a $35 billion valuation. Nvidia anchored the IPO at $40.

Founded in 2017, CoreWeave initially operated as a crypto miner before securing a $100 million investment and $320 million contract from Nvidia. The company also struck a deal with Microsoft for $1.6 billion in equity and $12.9 billion in debt commitments to purchase $10 billion worth of GPUs. CoreWeave now provides AI-related services.

Financially, CoreWeave saw sales grow from $228 million in 2023 to $1.9 billion last year, with adjusted operating profits jumping from $103 million to $1.2 billion. However, concerns exist about the company’s heavy debt load of $14.9 billion across 12 financings to acquire AI chips and build data centers.



Read more at Yahoo Finance: CoreWeave stock rips higher after muted IPO