CoreWeave’s initial public offering on Thursday raised $1.5 billion after setting the price of its shares at $40 each.
The $40 price point is significantly lower than the anticipated range of $47 to $55 per share. Potentially acting as a bellwether for a cooling period in the AI stock boom.
The size of the IPO was also taken down to 37 million shares from the initial 49 million shares for sale that CoreWeave and other early investors had planned to offer to the public.
The company lists publicly on the Nasdaq on Friday with the ticker (CRWV).
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