Nvidia-backed CoreWeave's shares open nearly 3% lower in market debut

Record ID: 1986370

  • Title: Nvidia-backed CoreWeave's shares open nearly 3% lower in market debut
  • Date: 28th March 2025
  • Summary: NEW YORK, NEW YORK, UNITED STATES (MARCH 28, 2025) (REUTERS) VARIOUS OF PEOPLE CHEERING FOR COREWEAVE IN TIMES SQUARE, OUTSIDE OF NASDAQ BUILDING VARIOUS OF INTRATOR CHEERING AND DIRECTING CROWD SALANKI (LEFT, BLUE SHIRT, SUN GLASSES), VENTURO (CENTER, WHITE HOODIE), INTRATOR (CENTER, DARK SUIT JACKET, GLASSES), AND MCBEE (RIGHT, BEIGE SHIRT, DARK SUIT JACKET) POSE FOR PIC
  • Embargoed:
  • Keywords: $27 billion valuation CoreWeave Ethereum-focused crypto miner IPO Nasdaq Nvidia-backed AI infrastructure firm debut initial public offering
  • Location: VARIOUS
  • City: VARIOUS
  • Country: US
  • Topics: Company News Markets,Economic Events,North America
  • Reuters ID: LVA002246628032025RP1
  • Aspect Ratio: 16:9
  • Story Text:CoreWeave, an artificial intelligence startup backed by Nvidia, fell in debut on Friday (March 28) after a hotly-anticipated IPO downsized and priced well below range.
    The shares opened nearly 3% below their initial public offering price on the Nasdaq.
    The Nvidia-backed AI infrastructure firm was valued at $22.7 billion on a fully diluted basis.
    CoreWeave has yet to turn a profit and some existing shareholders had planned to sell 49 mln shares at $47-$55.
    (Production: Aleksandra Michalska)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2025. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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