CoreWeave shares jump 20%, rebound after IPO stumble - Breaking The News

CoreWeave shares jump 20%, rebound after IPO stumble

1 April

1 min read

EPA-EFE/JUSTIN LANE

Shares of AI cloud company CoreWeave surged over 20% on Tuesday, bouncing back from a rocky post-IPO performance. The rally comes in the stock's third trading day, following a 10% drop Monday that pushed it below its $40 initial public offering price.

CoreWeave, which rents access to Nvidia's GPUs, launched the largest venture-backed US tech IPO since 2021. The company, which lists Microsoft as its largest customer, posted a $863 million net loss last year but saw revenue skyrocket 737% to $1.92 billion.

At 10:11 am ET, CoreWeave's shares jumped 20.12% to sell at $44.38.

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