CoreWeave set to begin trading

Michael Intrator, Founder & CEO of CoreWeave, Inc., Nvidia-backed cloud services provider, gestures during the company's IPO at the Nasdaq Market, in New York City, U.S., March 28, 2025. Artificial intelligence cloud provider CoreWeave is set to make its Nasdaq debut on Friday. The company priced shares at $40 in its initial public offering on Thursday, raising $1.5 billion. As a supplier to OpenAI, CoreWeave is among the beneficiaries of the rise of generative AI software such as the San Francisco AI startup's ChatGPT assistant, which launched in late 2022. Microsoft provided cloud services to OpenAI but quickly called in CoreWeave, which rents out access to its hundreds of thousands of Nvidia graphics processing units, to provide additional capacity. In 2024, 62% of CoreWeave's $1.92 billion in revenue came from Microsoft. But Microsoft is also a competitor, as are Amazon , Google and Oracle . Few technology companies have joined stock exchanges since late 2021, when investors b ... Read full article.