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Shares of closed flat at $40 on their first day of trading on the today. Shares had opened at $39 on Friday, a day when the Nasdaq on tariff and inflation concerns.

The day before, the Livingston, New Jersey-based cloud-based AI infrastructure company at $40 each, raising a reported $1.5 billion. Shares priced below the projected range of $47 to $55 per share laid out in a last week.

CoreWeave filed for its Nasdaq IPO earlier this month. The follows a period of sharp growth for the 8-year-old company, which posted revenue of $1.9 billion in 2024 — up an astonishing 737% from the prior year. However, the company is not profitable. Last year, CoreWeave posted an $863 million net loss, up 45% year over year.

CoreWeave’s IPO has been looked at as a bellwether for the expected thawing of the IPO market, which has been in an extended dry spell.

However, there seems to be growing concern about how quickly AI adoption will happen for many large companies and how much they are willing to allocate to data center spend. There is also worry that with so many data centers being built, supply could outstrip demand and lessen prices.

CoreWeave has raised $1.57 billion in equity funding, along with over $10 billion in debt financing, per .

Evanston, Illinois-based asset manager and structured credit investor is CoreWeave’s largest stakeholder, with 34.5% of its outstanding Class A shares. Other large stakeholders include (7.6%) and (6%).

CoreWeave is trading under the ticker symbol CRWV, with , and serving as lead underwriters.

Related reading:

• CoreWeave Files For IPO As Revenue Surges 
• With Turo Withdrawal, A Slim IPO Pipeline Gets Thinner

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