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0 8.3415358435909E-05 0.000300295290368969 6.67322867487651E-05 0.000483809078927741 0.00223553160607936 0.00578902587544423 0.00181845481390039
Stock impact report

US Cloud Computing Firm CoreWeave To Raise $1.5 Bn In IPO [Barron's]

Meta Platforms, Inc. - Class A (META) 
Company Research Source: Barrons
The company, which was founded in 2017, uses artificial intelligence chip giant Nvidia's graphic processing units to power AI workloads for customers. While its debut marks a major US tech offering, it comes amid a period of stock market volatility. Response to the IPO could also be seen as a sign of investors' confidence levels in the AI infrastructure sector. For now, CoreWeave's share price would be notably lower than a planned range of $47 to $55 each. But at its current level, the company's valuation would be around $19 billion. The New Jersey-based company has lowered the number of shares it would sell too, from 49 million originally announced to 37.5 million. US media reports said that Nvidia was eyeing a $250 million order of new shares. Meanwhile, ChatGPT creator OpenAI had also agreed to buy $350 million in CoreWeave shares, according to an earlier filing. CoreWeave counts among its customers Microsoft -- from which it derives much of its revenue -- alongsid Show less Read more
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