CoreWeave Prices IPO At $40, Strikes $12 Billion Deal With OpenAI

Benzinga

CoreWeave priced shares at $40 in its IPO Thursday, in the most extensive U.S. tech offering since 2021, according to CNBC. The AI provider cut its offering to over 37 million shares, valuing the company at nearly $19 billion. CoreWeave’s IPO marks a key test for tech startups and venture capital after a slowdown in offerings since early 2022 due to inflation and rising rates. CoreWeave announced a five-year deal with OpenAI worth nearly $12 billion, including a $350 million stock purchase. The company aims to compete with Amazon, Microsoft, and Google in the U.S. public cloud infrastructure market.

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

00:02Corey priced shares at $40 in its IPO Thursday and the largest U.S. tech offering since 2021,

00:07according to CNBC. The AI provider cut its offering to over 37 million shares,

00:12valuing the company at nearly $19 billion. Corey's IPO marks a key test for tech startups

00:17and venture capital after a slowdown in offerings since early 2022 due to inflation

00:22and rising rates. Corey announced a five-year deal with OpenAI worth nearly $12 billion,

00:27including a $350 million stock purchase. The company is aiming to compete with

00:30Amazon, Microsoft, and Google in the U.S. public cloud infrastructure market.

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