CoreWeave set to begin trading after biggest U.S. tech IPO since 2021

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. CoreWeave, a seller of artificial intelligence technology in the cloud, is set to make its Nasdaq debut on Friday. The company priced shares at $40 in its IPO on Thursday, below its expected range, raising $1.5 billion. The offering has captured the attention of investors from Wall Street to Silicon Valley, as CoreWeave represents the first pure-play AI IPO and the largest tech debut in the U.S. in four years. The IPO market has been largely shut since the end of 2021, as the tech industry reckoned with rising inflation and interest rates. As a supplier to OpenAI, CoreWeave is among the beneficiaries of the generative AI boom that began with the launch of ChatGPT in late 2022. Microsoft , which provides cloud services to OpenAI, is CoreWeave's biggest customer, accounting for 62% of the company's $1 ... Read full article.