CoreWeave lists on Nasdaq: the AI neocloud's IPO

2025-03-28 · Publisher : CoreWeave · Domain : Cloud & DevOps

CoreWeave prices its IPO at USD 40 a share, below the hoped-for range, and starts trading on Nasdaq on 28 March 2025 under the ticker CRWV.

### What changes On 27 March 2025, **CoreWeave** announces the pricing of its initial public offering: 37.5 million Class A shares at USD 40, of which 36.59 million sold by the company and 910,000 by existing shareholders. Shares begin trading on the Nasdaq Global Select Market on 28 March under the ticker "CRWV". The company, which calls itself an "AI Hyperscaler", rents GPU infrastructure to AI developers and enterprises. Lead banks are Morgan Stanley, J.P. Morgan and Goldman Sachs. ### Key facts - Offering: 37.5 million shares at USD 40, i.e. about USD 1.5 billion raised according to CNBC, the largest US tech offering since 2021. - Range: price below the initial range of USD 47 to 55; valuation close to USD 19 billion at USD 40, according to CNBC. - Listing: Nasdaq Global Select Market, ticker CRWV, from 28 March 2025. - Banks' option: 5.625 million additional shares over 30 days. - Model: renting GPU capacity ("neocloud") to AI labs and enterprises. ### Why it matters CoreWeave is an on-demand GPU provider that is neither a hyperscaler nor a chip maker. Its listing puts its accounts in public view. For IT departments, it confirms that a layer of specialized providers sells AI capacity alongside AWS, Azure and Google Cloud. The listing documents let one examine their dependence on a few large customers and their debt levels. ### Takeaway The AI neocloud enters public markets, with an IPO price below expectations.

Tags : Néocloud, Datacenter, États-Unis, IA, NVIDIA