COREWEAVE SHARES
Lenders turn to AI; Flipkart re-ups war chest
Happy Thursday! Lenders are turning to fintech startups for smarter debt collection solutions as unsecured loan stress rises. This and more in today’s ETtech Morning Dispatch.
Wall Street ends up, but Trump tariff speech sends futures lower
U.S. stock indexes closed higher amid choppy trading as investors positioned themselves ahead of President Trump's sweeping tariff announcements. Post-market, S&P 500 and Nasdaq futures fell sharply. Trump's tariffs include a 10% baseline on all imports and higher duties for key partners. Tesla and big-tech stocks showed gains, while CoreWeave recovered despite Newsmax plummeting.
Nvidia’s Jensen Huang, tech mogul Michael Dell thrown out of elite $100 billion club
Huang, formerly one of the largest beneficiaries of the AI stock surge, has seen his wealth decline by $17.7 billion this year as Nvidia's stock has fallen 18% since January. His current net worth is $96.7 billion, placing him 16th on Bloomberg’s Billionaires list.
CoreWeave shares soar past IPO price on third trading day
On Friday, the Nvidia-backed stock debuted at $39, giving the AI infrastructure firm a valuation of $23 billion on a fully diluted basis. CoreWeave had already taken a hit on Thursday when it downsized its IPO.
S&P, Nasdaq end higher as Wall Street gyrates in Trump-tariffs limbo
The S&P 500 and Nasdaq Composite rose on Tuesday, driven by rebounds in technology stocks, despite volatility and investor anxiety over impending tariff announcements from President Trump. Gains were led by Tesla, Microsoft, and Meta Platforms, while healthcare and airlines saw declines. Big gains were noted for newly public companies like Newsmax and CoreWeave.
US stocks gyrate as investors caught in Trump-tariffs limbo
U.S. stock indexes fluctuated on Tuesday as investors braced for new tariffs, with the S&P 500 regaining ground but dragged by healthcare and airline stocks. Technology shares offered support, while major names like Tesla and Microsoft saw gains. Johnson & Johnson and major airlines faced declines amid economic uncertainty.
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Nvidia has lost $1 trillion in market value since January, is AI losing its mojo? Here’s what’s behind the drop
Nvidia has lost over $1 trillion in market value since January 2025, with its stock plummeting 27%. This decline raises concerns about AI’s long-term profitability as Microsoft halts new data center projects, signaling a slowdown in AI infrastructure investments. CoreWeave’s weak IPO and inflation pressures are further eroding investor confidence. With rising competition from emerging AI models like DeepSeek, Nvidia’s dominance in AI hardware is under threat. While AI remains a transformative force, Nvidia’s massive decline suggests that AI’s rewards may take longer to materialize than expected.
CoreWeave disappoints on opening of trading
CoreWeave, the first AI startup to go public, closed its IPO at $40.01 per share, slightly above its offering price. Market concerns over the economy, inflation, and debt issues affected investor confidence. Michael Intrator, CoreWeave's chief executive said, "This is just a day, and we'll get through this day, and we'll keep moving. Getting into the public markets is what matters for us."
Nasdaq, S&P tumble 2% as fresh data fuels inflation fear
Wall Street stocks plummeted on Friday as Amazon, Microsoft, and other tech giants faced selloffs due to fears of weak economic growth and high inflation spurred by U.S. tariff hikes. With inflation concerns rising, shares of major companies like Apple, Microsoft, and Amazon fell significantly. The S&P 500, Nasdaq, and Dow Jones all ended the week notably lower.
Nvidia-backed CoreWeave's shares open nearly 3% lower in market debut
The Nvidia-backed AI infrastructure firm was valued at $22.7 billion on a fully diluted basis.
CoreWeave’s $23 billion IPO: A risky bet or AI’s next big opportunity? Can the Nvidia-backed AI cloud giant overcome market volatility, Microsoft dependence, and financial challenges?
CoreWeave, the Nvidia-backed AI cloud company, has launched its IPO at $40 per share, significantly below its initial expectations. The company, now valued at $23 billion, had to downsize its offering due to market volatility and investor concerns about its financial sustainability. Despite rapid revenue growth of 700% last year, CoreWeave remains unprofitable with a net loss of $863 million. Its heavy reliance on Microsoft and the capital-intensive nature of its business raise further questions. Investors are closely watching whether CoreWeave can sustain its growth and profitability in an increasingly competitive AI infrastructure market.
US cloud computing firm CoreWeave to raise $1.5 billion in IPO
US cloud services provider CoreWeave said it priced its initial public offering at $40 per share, allowing it to raise $1.5 billion -- in an announcement a day before it starts trading in New York. For now, CoreWeave's share price would be notably lower than a planned range of $47 to $55 each.
What's wrong with Nvidia-backed cloud services provider? Report claims CoreWeave plans to reduce US IPO
CoreWeave and some existing investors had initially aimed to sell 49 million shares in the offering priced between $47 and $55 each to raise as much as $2.7 billion.
CoreWeave planning to cut US IPO size, price below range, source says
The Nvidia-backed cloud services company aims to cut the IPO size to 37.5 million shares and price it at $40 each, the source said. The sale would fetch up to $1.5 billion.
Nvidia-backed CoreWeave targets up to $32 billion valuation in test for AI IPOs
Meanwhile, ahead of the IPO, CoreWeave had tied up with some of the biggest AI heavyweights, including Sam Altman's OpenAI. Last week, the company signed an $11.9 billion infrastructure contract with the ChatGPT maker. Nvidia currently owns 5.96% of CoreWeave's Class A shares, which is expected to be reduced to 5.05% after the offering.
Payments firm Klarna files for $1 billion IPO, targets $15 billion valuation
Klarna had net income of $21 million on revenue of $2.81 billion for 2024, compared with net loss of $244 million on revenue of $2.28 billion a year earlier, according to its filing Friday.
CoreWeave wins $12 billion cloud contract from OpenAI ahead of IPO, sources say
The deal will give OpenAI a stake in CoreWeave, which will issue shares worth $350 million to the ChatGPT maker through a private placement at the time of its initial public offering, the sources said, requesting anonymity as the discussions are confidential.
Ticketing resale firm StubHub plans potential IPO of $1 billion by year-end: Report
StubHub is considering launching an IPO this year, aiming to raise $1 billion, according to reports. The ticketing software firm announced the plans during an investor meet on Thursday. Established in 2000, the platform has developed into a space where fans can buy and sell passes for concerts and events.
Microsoft withdrew some CoreWeave agreements over delivery issue: Report
Microsoft has a number of ongoing contracts with CoreWeave that provide it with computing capacity from data centres, a partnership which is worth billions of dollars, the newspaper said.
AI giant CoreWeave’s blockbuster IPO filing unveils a shocking detail; one customer drives more than 50% of its $1.9 billion revenue
Nvidia-backed CoreWeave is preparing for its IPO filing with an estimated valuation of $35 billion. The firm relies heavily on two customers for 77% of its revenues. Microsoft accounts for 62% of this. CoreWeave aims to address material weaknesses in its financial systems by 2026. The IPO will be the first major tech IPO of 2025.
Nvidia-backed startup Coreweave, which has clients like Microsoft, Meta, is making stock market debut. What do New York Stock Exchange investors need to know?
US startup Coreweave, backed by Nvidia, is set for the stock market debut.
Nvidia’s AI boom brings riches to partners like Dell, at a cost
Dell’s dilemma is playing out for the largest US server makers as they navigate the artificial intelligence boom. Though technology from Nvidia Corp. has brought a sales surge to Dell, Hewlett Packard Enterprise Co. and Super Micro Computer , the companies have suffered from shrinking margins and less influence over major customers.
CoreWeave targets valuation of over $35 billion in 2025 US IPO, sources say
The discussions come at a time when investor interest in generative AI is sky-rocketing. The AI boom, which has powered chipmakers such as Nvidia, and other big tech firms, has turbocharged global demand for infrastructure such as data centers and high-powered servers.
Nvidia's AI chip demand still booming but slowing sales growth worries investors
Nvidia, the world's most valuable firm, predicted its slowest revenue growth in seven quarters, falling short of investor expectations. Despite exceeding initial sales projections for its new AI chips, supply chain issues and high demand are impacting the company's growth and margins. While Nvidia's third-quarter earnings surpassed estimates, its data center segment experienced slower growth.
Nvidia's AI chip demand still booming but slowing sales growth worries investors
The stock has nearly quadrupled so far this year and is up more than ninefold over the last two years, giving it a market value of $3.6 trillion. Nvidia is in the middle of launching its powerful Blackwell family of AI chips, which will weigh on the company's gross margins initially but improve over time.
New Hindenburg report claims $35 billion server maker Super Micro Computer engaged in 'accounting manipulation'
Hindenburg Research's latest report accuses Super Micro Computer of severe accounting manipulation and sanctions evasion, causing an 8% drop in its Nasdaq-listed shares. The investigation reveals ongoing issues despite a previous SEC settlement and highlights problematic related party transactions. Super Micro, a major Silicon Valley server manufacturer, faces renewed scrutiny over its financial practices and corporate governance.
AI startup funding more than doubles in Q2, Crunchbase data shows
Startup funding overall grew 16% sequentially to touch $79 billion in the last quarter, primarily driven by investments in AI, which became the largest sector for the first time, followed by healthcare and biotech. Outside of AI, cybersecurity company Wiz raised a billion-dollar in its latest funding round.
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