US EditionCoreWeave valued at $23 billion in muted Nasdaq debut
- CoreWeave priced its IPO at $40 a share, raising $1.5 billion, marking the largest tech public offering in the U.S. Since 2021.
- The company saw its revenue jump over 700% to nearly $2 billion last year, but recorded a net loss of $863 million.
- Nvidia plans to purchase $250 million in shares at IPO pricing, further indicating their significant shareholding.
- CoreWeave's financial future is uncertain due to high debt and reliance on Microsoft for 62% of its revenue.
73 Articles
73 Articles
CoreWeave’s First Day of Trading Highlights Fizzling AI Enthusiasm
AI cloud computing provider CoreWeave uncorked the champagne on its Nasdaq debut Friday, but the end result was as flat as a two-day-old soda fountain Pepsi. Markets were left with no gains, no losses and a lot of questions about where the AI boom is headed. The Lease of Their Problems CoreWeave started out in 2017 as a crypto miner, but ditched the sector altogether in 2022 to focus on data centers. The Livingston, NJ-based company was the dict…
🔒 CoreWeave’s IPO: A Turning point for AI investment transparency
Key topics: CoreWeave’s IPO: a pivotal moment for AI’s financial transparency. Heavy reliance on Microsoft revenue poses risks for CoreWeave’s future. AI industry’s high burn rate: The true cost behind the AI boom. Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here. Support South Africa’s bastion of independent…
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