CoreWeave Starts Trading at $39, Just Under Initial $40 Share Price

CoreWeave Goes Public at $39, Falling Short of IPO Price Amid Market Jitters

CoreWeave (CRWV) made its public debut on the Nasdaq Friday, opening at $39 per share — just below its IPO price of $40 — in a moment that underscores both the promise and pressure facing AI-focused companies entering today’s market.

The New Jersey-based cloud computing company raised roughly $1.5 billion in its IPO, selling 37.5 million shares. While still a sizable haul — and the biggest tech IPO since 2021 — the final pricing came in well below the originally proposed range of $47 to $55, hinting at tempered investor enthusiasm.

A major vote of confidence came from Nvidia, one of CoreWeave’s early backers, which committed $250 million to the offering. But despite that support, concerns about CoreWeave’s financial health are surfacing.

Analysts have pointed out the company’s heavy debt load, dependence on a small group of customers, and limited revenue streams. Bloomberg tech columnist Dave Lee flagged these as potential trouble spots, warning that CoreWeave might not be able to ride the AI wave indefinitely.

“This is one of the most closely watched AI IPOs, and any crack in confidence could send shockwaves through the broader sector,” Lee wrote.

Adding to the headwinds is a broader risk-off sentiment in markets. New tariffs introduced by President Donald Trump have spooked investors and contributed to a tech sector pullback, likely making CoreWeave’s IPO timing less than ideal.

Despite a muted debut, CoreWeave now has fresh capital and a growing presence in the AI infrastructure space — but its next steps will be crucial in determining whether it becomes a breakout success or just another name on a long list of overhyped public debuts.

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