Wall Street banks got meager payout from CoreWeave IPO

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. Wall Street banks waited a long time for a billion dollar IPO from a U.S. tech company. They're not making much money from the one they got. The underwriting discount and commissions paid by artificial intelligence infrastructure provider CoreWeave , which hit the Nasdaq on Friday, amounted to just 2.8% of the total proceeds, according to a Monday filing with the Securities and Exchange Commission. That means that of the $1.5 billion raised in the offering, $42 million went to underwriters. That's on the low side historically. Since Facebook's record-setting IPO in 2012, there have been 25 venture-backed offerings for tech-related U.S. companies that have raised at least $1 billion, with an average underwriting fee of 4%, according to data from FactSet analyzed by CNBC. Facebook, in raising $16 billion, paid ou ... Read full article.