CoreWeave shares soar past IPO price on 3rd trading day
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shares closed up 42% at $52.57 on Tuesday, their third day of trading, above their initial public offering price of $40.
From Reuters
shares were up 17% at $43.50 on their third day of trading on Tuesday, above their initial public offering price of $40.
From Reuters
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CoreWeave received the most proceeds from a U.S. technology IPO since automation software maker UiPath went public in 2021.
CoreWeave has found a big market in selling Nvidia’s popular AI processors, but the company has a challenging story to sell to public investors.
CoreWeave Inc. shares closed up 42% at $52.57 on Tuesday, marking a significant recovery in its third day of trading after the company's IPO.
CoreWeave sells access to Nvidia graphics processors as a service, allowing developers to rent chips by the hour so they can develop more advanced AI models.
CoreWeave co-founder Brian Venturo knows that three hedge fund guys, turned crypto miners, now running AI training infrastructure has been a wild ride.
CoreWeave's IPO debut tests neocloud viability and reliance on Nvidia GPUs.
Nvidia Corporation (NASDAQ: NVDA) dropped 3.66% during the Monday pre-market trading session following CoreWeave's disappointing IPO and uncertainty surrounding President Donald Trump's 'Liberation Day' on April 2.
The CoreWeave IPO will be another test for Nvidia and the near-term demand for AI chips. Read why I remain bearish on NVDA stock.