CoreWeave drops after Friday's flat finish

ReutersMar 31, 2025 10:51 AM

Shares of CoreWeave CRWV.O, Nvidia NVDA.O-backed artificial intelligence startup, down 3.4% at $38.66 before the bell following disappointing IPO

CRWV opened at $39 on Fri in Nasdaq debut and ended session flat at $40, after $1.5 bln IPO downsized by >20% and priced well below the expected range

Nvidia, which had ~6% stake in CoreWeave, bought $250 mln worth of IPO shares, Reuters reported

Livingston, New Jersey-based CoreWeave, which has yet to turn a profit, generated more than eightfold rev increase in 2024 to $1.9 bln, of which Microsoft MSFT.O accounted for nearly two-thirds

CoreWeave's IPO viewed as a crucial barometer of investor appetite for new listings and sentiment for AI-related stocks after the launch of China's DeepSeek

Equities, which tumbled on Fri, extending declines premarket amid broader global selloff after U.S. President Donald Trump's latest tariffs comments stoke recession jitters .N

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