CoreWeave Shares Soar 40% Tuesday, Recovering From Weak IPO Start

Benzinga

CoreWeave shares surged more than 40% on Tuesday, lifting its market cap to nearly $25 billion after a weak market debut, according to CNBC. The AI cloud firm had dropped more than 10% Monday, falling below its IPO price. Friday’s IPO was the largest U.S. venture-backed tech debut since 2021. CoreWeave had lowered its IPO price and reduced its share offering amid weak demand and Trump-driven macroeconomic uncertainty. CEO Mike Intrator said the company adjusted the deal to match buyer interest.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Shares surged more than 40% on Tuesday, losing its market cap to nearly $25 billion after a

00:07weak market debut, according to CNBC. The AI cloud firm had dropped more than 10% on Monday,

00:13falling below its IPO price. Friday's IPO was the largest U.S. venture-backed tech debut

00:17since 2021. Corbyn lowered its IPO price and reduced its share offering amid weak demand

00:23and Trump-driven macroeconomic uncertainty. CEO Mike Intrader said the company adjusted the deal

00:29to match buyer interest. For all things money, visit Benzinga.com slash GSTV.

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