Nvidia-backed CoreWeave opens at $39 per share 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's stock opened at $39 in its Nasdaq debut on Friday after the company sold shares at $40 a piece, below the expected range. The seller of artificial intelligence technology in the cloud raised $1.5 billion in its share sale, the biggest tech IPO in the U.S. since 2021. 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. Tech stocks aren't doing CoreWeave any favors. The company hit the market on a day that the Nasdaq was off by almost 3%, heading for its worst quarterly performance since mid-2022. The tech-heavy index i ... Read full article.