CoreWeave Shares Surge 65% Since IPO Amid Nvidia Stake Increase

New York, NY – CoreWeave shares have climbed about 65% since their initial public offering (IPO) earlier this year. This surge follows a significant rise in demand for the company’s services, which provide access to Nvidia graphics processing units for artificial intelligence training.

At the end of March, Nvidia owned nearly $900 million worth of CoreWeave shares. Following the recent spike in CoreWeave’s stock, Nvidia’s stake is now approximately worth $1.6 billion, assuming no shares were sold since March. Nvidia’s involvement has been pivotal as CoreWeave debuted on the Nasdaq in late March with the largest U.S. venture-backed tech IPO since 2021.

According to a filing, Nvidia increased its holdings from 17.9 million shares at the time of the IPO to 24.2 million shares. The company originally anticipated selling shares at between $47 and $55 each during its roadshow. However, Nvidia stepped in with a $250 million order, allowing the shares to be priced at $40 each. Ultimately, CoreWeave raised $1.5 billion through the IPO.

Mike Intrator, CoreWeave’s CEO, praised Nvidia as a “wonderful partner” and described the relationship as “symbiotic.” This partnership appears to be strengthening as analysts recognized CoreWeave’s 420% revenue growth from the previous year, which exceeded expectations. CoreWeave’s stock closed at $65.77 on Thursday, reflecting robust investor confidence in the company.