CoreWeave co-founder explains how a closet of crypto-mining GPUs led to a $1.5B IPO
CoreWeave began trading on Friday with more of a shrug than a war cry. The company priced at $40 on Thursday, below the $47- $50 price range announced. It also trimmed the number of shares offered.
All told, CoreWeave raised $1.5 billion and nabbed a $14 billion market cap on Day 1, instead of a hoped-for $3 billion+ raise and a much higher valuation. Shares also opened at $39 (ouch!), and closed at $40. A lukewarm reception.
Still, the company’s IPO lands as the largest AI-related listing to date, and the biggest U.S. tech IPO since the heady days of 2021.
Sitting in an ordinary white hoodie in a bland conference room, and talking with a detectable Jersey accent, Chief Strategy Officer Brian Venturo told TechCrunch that…
