CoreWeave shares slump nearly 10% in second day of trading

Michael Intrator, founder and CEO of CoreWeave Inc., Nvidia-backed cloud services provider, attends his company's IPO at the Nasdaq Market in New York City on March 28, 2025. CoreWeave's public offering also served as a major test for an IPO market that has largely dried up since early 2022 as inflation and rising interest rates deterred investors from riskier bets. CoreWeave's offering marked the biggest tech IPO since 2021 and the first pure-play AI company to go public. The initial share sale raised $1.5 billion. It was also the largest U.S. IPO since automation software maker UiPath 's $1.57 billion debut in 2021 . The artificial intelligence cloud provider sold shares at $40 and the stock opened at $39 in its market debut Friday. Shares closed at $40. Many had hoped that President Donald Trump's victory would usher in a more favorable setup for IPOs, but new tariffs have triggered economic uncertainty and sapped interest in technology stocks. The tech-heavy Nasdaq Composite wa ... Read full article.