CoreWeave Inc. slipped 2.5% in its market debut after the cloud-computing provider raised $1.5 billion in a downsized initial public offering. The company’s stock opened at $39 each on Friday, below the $40 per share initial public offering. The cloud-computing provider sold 37.5 million shares at $40 apiece, down from an initial plan of 49 million shares at $47 to $55 each that might have raised as much as $2.7 billion.
Nvidia Corp., an existing investor in CoreWeave, anchored the share sale with an order of about $250 million, a person with knowledge of the matter told Bloomberg, asking not to be identified because the information was private. Representatives for Nvidia declined to comment. Half of the shares sold in the IPO went to the three largest investors in the deal, other people familiar with the matter said. (Source: Bloomberg)
