"Nvidia invested $350 million in CoreWeave in two tranches before its March IPO. Having originally invested $100 million in April 2023, it invested another $250 million just before its public debut, giving it a total of approximately 24.2 million shares at $40 per share, securing a 7% stake for Nvidia. Following the IPO, CoreWeave surged to an all-time high of $187 per share in June, but has been on a fairly steady decline since."
"Friday's plunge followed an SEC Form 4 filing revealing that Chief Financial Officer Nitin Agrawal sold 66,467 shares on December 11 at an average price of $82.58, totaling approximately $5.49 million. While investors are often reminded to ignore insider sales because they can sell stock for any reason - or no reason at all - those made by CFOs should be noted because of their specialized knowledge of the company's finances."
Nvidia holds a public AI-focused investment portfolio of six positions valued at about $3.84 billion at the end of the third quarter. CoreWeave represents over 86% of that portfolio by value. Nvidia invested $350 million in CoreWeave in two tranches, totaling roughly 24.2 million shares at $40 per share and securing a 7% stake. CoreWeave rose to $187 per share in June and subsequently fell about 60% from that peak, with a recent 10% drop bringing market capitalization near $39 billion. A disclosed CFO sale tied to RSU vesting explained part of a recent share sale and was characterized as an administrative non-event.
Read at 24/7 Wall St.
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