Cloud computing company CoreWeave significantly reduced its public listing offering, slashing the valuation from $35 billion to $19 billion, amid a slumping stock market and growing concerns over artificial intelligence development in a slowing economy. The New Jersey-based firm initially aimed to raise $4 billion at its IPO but now expects to raise only $1.5 billion. CoreWeave will begin trading on Friday with shares priced at $40, down from recent estimates of $47 to $55 per share.
Source: https://www.nytimes.com/2025/03/27/technology/coreweave-scales-back-ambitions-for-its-ipo.html