CoreWeave completes IPO at $40 per share, raising $1.5 billion

ChainCatcher news, focusing on artificial intelligence cloud service company CoreWeave successfully completed its initial public offering (IPO), raising $1.5 billion at a price of $40 per share, with the company's valuation reaching approximately $23 billion. Due to a sluggish stock market, the company reduced the IPO size from the initially planned 49 million shares (priced at $47-55 per share) to 37.5 million shares.

AI giant Nvidia, as an investor in CoreWeave, subscribed for $250 million worth of shares in this IPO, strengthening its stake in the AI cloud service company. CoreWeave has deep ties with Bitcoin mining company CoreScientific, having previously reached a multi-billion dollar partnership agreement to enhance CoreScientific's AI capabilities. Notably, Nvidia's stock price has dropped 12% this year, reflecting the overall weakness in the AI sector.