CoreWeave Inc., a cloud-computing provider backed by Nvidia Corp., is set to guide investors that its initial public offering (IPO) has received orders for all available shares. The IPO, led by Morgan Stanley, JPMorgan Chase & Co., and Goldman Sachs Group Inc., is oversubscribed following early mutual fund support and one-on-one conversions.
The deal could raise up to $2.7 billion at the top of its marketed range. CoreWeave’s shares were offered to investors at a price range of $47 to $55, with 49 million shares being made available. The IPO is expected to begin trading on the Nasdaq under the symbol CRWV next Friday.
It’s worth noting that a spokesperson for CoreWeave declined to comment on the matter. As early as this week, investors received the company’s messaging, which suggests it’s still an early stage in the process.
Source: https://finance.yahoo.com/news/coreweave-ipo-said-oversubscribed-first-000742888.html