The day before, the Livingston, New Jersey-based cloud-based AI infrastructure company priced shares at $40 each, raising a reported $1.5 billion. Shares priced below the projected range of $47 to $55 per share laid out in a filing last week. CoreWeave filed for its Nasdaq IPO earlier this month. The filing follows a period of sharp growth for the 8-year-old company, which posted revenue of $1.9 billion in 2024 ' up an astonishing 737% from the prior year. However, the company is not profitable. Last year, CoreWeave posted an $863 million net loss, up 45% year over year. However, there seems to be growing concern about how quickly AI adoption will happen for many large companies and how much they are willing to allocate to data center spend. There is also worry that with so many data centers being built, supply could outstrip demand and lessen prices. Evanston, Illinois-based asset manager and structured credit investor Magnetar Capital is CoreWeave's largest stakeholder, with 34.5%...
learn more
