IPO Report
Published: March 27, 2025 at 10:06 p.m. ET
CoreWeave priced its initial public offering at $40 a share Thursday night, lower than its expected range but still making it one of the biggest tech IPOs in years.
The AI cloud company initially planned to sell shares for between $47 and $55 a share, for a valuation of $27 billion to $32 billion. In addition to lowering the price, CoreWeave also reduced the number of shares being offered, from 49 million to 37.5 million. At the new price and distribution, the company is raising $1.5 billion, at a valuation of about $19 billion, or $23 billion on a fully diluted basis.
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