👩🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.
🧔♂️ A friendly human may check it before it goes live. More news here
🧔♂️ A friendly human may check it before it goes live. More news here
Nvidia-backed AI firm’s stock falls 7% below IPO price to $37
CoreWeave’s stock fell 7% on Monday to US$37, below its IPO price of US$40.
The AI cloud provider debuts at US$39, closes at US$40 on Mar. 28.
The company raised US$1.5 billion in its IPO, the largest tech listing since UiPath’s US$1.57 billion debut in 2021.
It is also the first AI-focused firm to go public amid a slow IPO market.
CoreWeave initially aimed to raise US$2.5 billion at US$47-US$55 per share but lowered its offering to 37.5 million shares from 49 million due to market conditions.
