Market history · New issues ·
CoreWeave prices below its range and closes flat
CoreWeave, a cloud-computing company backed by Nvidia and focused on artificial intelligence, priced its initial public offering at $40 a share on 27 March 2025, below the range it had marketed, and began trading on Nasdaq the next day. The shares closed at the $40 offer price, giving the company a valuation of about $23 billion in what CNBC described as the biggest US tech IPO since 2021.
The pricing came during a volatile spell for shares ahead of the April tariff announcements. The debut was muted compared with the first-day jumps of several other recent listings.
The takeaway
A listing priced below its marketed range is information about demand. Even popular themes can meet a cautious market on a given day.
Sources
This is a retrospective about a past event, provided for general information. It is not investment advice, does not describe RockLake's positioning at the time, and past performance is not a guide to future performance. Read the risk warning.