CoreWeave, a fintech firm, debuted on the Nasdaq with a muted reception after valuing itself at $23 billion. The company’s initial public offering (IPO) priced below its expected range, sparking concerns among investors. CoreWeave relies heavily on Microsoft for its technology and infrastructure needs.
At close, the stock traded flat to its IPO price of $40 per share, indicating a lackluster investor response. Investors have expressed worries over the company’s high reliance on Microsoft, which could limit its growth prospects in the future.
The firm’s downsized IPO was seen as an attempt to address these concerns, but it remains to be seen how this will impact the company’s long-term performance.
Source: https://www.reuters.com/markets/deals/nvidia-backed-coreweaves-shares-likely-open-up-25-above-ipo-price-2025-03-28