CoreWeave (CRWV) shares opened for $39 each, based on the first public offering that closed Thursday evening, during the company’s debut at NASDAQ on Friday afternoon.
The cloud computing company sold about 37.5 million shares for $40 each, raising about $1.5 billion in an initial public offering (IPO), making it the largest technology product since 2021. But initially, they planned to file an offer for a share of $47-55, with a much higher rating than they had finally seen.
Nvidia, the company’s early investor, placed an order of $250 million for the offering.
Some experts have speculated that they have not seen the success that stock debuts hoped for. For example, Bloomberg’s opinion, US technology columnist Dave Lee noted that the company’s large debts, reliance on just a few large customers, and lack of diversity in revenue could be a problem.
“We believe CoreWeave is positive across the AI industry. It’s a must-see inventory as questions about return on investment will grow,” Lee wrote in OP-ED on Friday. “Even the slightest signs of instability in AI beliefs send investors to the tailspin.”
The current risk-off environment caused by the overall macro situation in the US may have also placed a heavy emphasis on CoreWeave’s IPO, due to recent tariffs that have led to selling tech stocks, primarily due to recent tariffs imposed by US President Donald Trump.
