PANews reported on March 28 that according to CoinDesk, CoreWeave, a cloud services company focused on artificial intelligence, successfully completed its initial public offering (IPO), raising $1.5 billion at a price of $40 per share, with the company valued at approximately $23 billion. Due to the sluggish stock market, the company reduced its IPO scale 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 to $250 million worth of shares in this IPO, strengthening its stake in the AI cloud services company. CoreWeave has deep ties with Bitcoin mining enterprise CoreScientific, and the two previously reached a multi-billion-dollar cooperation agreement to enhance CoreScientific's AI capabilities. It is worth noting that Nvidia's stock price has dropped 12% this year, reflecting the overall weakness in the AI sector.
