Why Nvidia-Backed CoreWeave Stock Is Plunging a Day After Its IPO
The much-anticipated initial public offering (IPO) of CoreWeave (NASDAQ: CRWV) came Friday. The stock ended the day where it started trading at its offering price of $40 per share. But stock in the artificial intelligence (AI) hyperscaler is plunging on its first full day of trading.AI leader Nvidia purchased $250 million at the IPO price according to reports, but that investment is now underwater. CoreWeave shares were down by 7.9% as of 11:08 a.m. ET.Continue reading
The much-anticipated initial public offering (IPO) of CoreWeave (NASDAQ: CRWV) came Friday. The stock ended the day where it started trading at its offering price of $40 per share. But stock in the artificial intelligence (AI) hyperscaler is plunging on its first full day of trading.
AI leader Nvidia purchased $250 million at the IPO price according to reports, but that investment is now underwater. CoreWeave shares were down by 7.9% as of 11:08 a.m. ET.
