CoreWeave completes IPO at $40 per share, raising $1.5 billion at a valuation of $23 billion

PANews reported on March 28 that according to CoinDesk, CoreWeave, a cloud service company focusing on artificial intelligence, successfully completed its initial public offering (IPO), raising $1.5 billion at $40 per share, with a company valuation of approximately $23 billion. Due to the sluggish stock market, the company reduced the size of its IPO from the originally planned 49 million shares (at $47-55 per share) to 37.5 million shares.

AI giant Nvidia, as an investor in CoreWeave, subscribed to $250 million worth of shares in the IPO, strengthening its holding position in the AI cloud service company. CoreWeave has deep ties with Bitcoin mining company CoreScientific, and the two parties have previously reached a multi-billion dollar cooperation agreement to enhance CoreScientific's AI capabilities. It is worth noting that Nvidia's stock price has fallen 12% this year, reflecting the weakness of the overall AI sector.