CoreWeave, the first AI start-up to go public, began trading at $39, slightly below its IPO price of $40 amid broader market uncertainties. The company raised $1.5 billion, significantly less than analysts' expectations of $4 billion, suggesting skepticism about its valuation. Market influences such as inflation concerns and President Trump's tariffs contributed to this cautious sentiment. Despite the rocky start, CEO Michael Intrator emphasized the long-term benefits of accessing public markets, highlighting their commitment to navigating initial trading challenges.
Shares of CoreWeave, the first artificial intelligence start-up to go public, opened their first day of trading on Friday at $39, down from its initial public offering price of $40.
In an interview on Friday, CEO Michael Intrator acknowledged concerns about the stock market and A.I. industry that drove the company to reduce its listing, stressing the importance of entering public markets.
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