CoreWeave Stock Debuts on Nasdaq, Opens Below IPO Price
CoreWeave (CRWV) began trading on the Nasdaq Friday afternoon, opening at $39 per share — slightly below its IPO price of $40. The debut marked one of the most anticipated tech listings in years, though it fell short of the early valuation targets the company had originally envisioned.
The cloud computing firm raised approximately $1.5 billion by offering around 37.5 million shares at $40 each. While a significant milestone, it was a scaled-back result compared to initial plans to price the shares between $47 and $55 — a sign that investor caution may be creeping into the AI-driven tech sector.
Among the participants in the offering was Nvidia, a key early backer of CoreWeave, which committed $250 million to the IPO.
Despite the buzz around CoreWeave’s role in the growing AI infrastructure space, not all analysts were convinced the debut would shine. Bloomberg tech columnist Dave Lee noted concerns around the company’s concentrated customer base, mounting debt, and limited revenue streams.
“CoreWeave has the potential to act as a proxy for broader AI sentiment — a stock to watch closely as investors become increasingly wary of ROI in this space,” Lee wrote in an op-ed.
Adding to the headwinds was a cooling investor environment, partly driven by geopolitical tensions and economic uncertainty. Recently imposed tariffs by U.S. President Donald Trump have triggered a broader tech selloff, likely putting additional pressure on CoreWeave’s debut.
Whether CoreWeave can overcome these early hurdles remains to be seen, but its performance will be a key signal for the future appetite around AI-focused public offerings.
