On March 27, 2025 CoreWeave announced the pricing of its initial public offering at $40.00 per share. The offering covered 37.5 million shares of Class A common stock - 36,590,000 sold by CoreWeave and 910,000 sold by existing stockholders - and was expected to begin trading on the Nasdaq Global Select Market the next day, March 28, 2025, under the ticker symbol CRWV. The company also granted underwriters a 30-day option to buy up to an additional 5,625,000 shares at the IPO price. The CoreWeave portion of the offering raised roughly $1.5 billion in gross proceeds before the over-allotment.
CoreWeave is a specialized cloud provider built around large fleets of NVIDIA GPUs rented to AI developers. Its listing was the first major public-market debut of a company whose business is renting AI compute, and it arrived as demand for GPU capacity from frontier model labs was at a peak.
The offering was watched closely as a barometer for investor appetite in the AI-infrastructure buildout. The stock opened roughly flat to its offer price on debut before rising sharply in the following months.
Why business readers should care: CoreWeave’s IPO put a public valuation on the “picks and shovels” layer of the AI boom - the data centers and GPUs that frontier labs rent rather than own - and gave investors a direct way to bet on compute demand rather than on any single model.