Nvidia-Backed CoreWeave's IPO Comes In Below Expectations At $40 Per Share - JPMorgan Chase (NYSE:JPM), Goldman Sachs Group (NYSE:GS)
1. CoreWeave's IPO priced at $40, below expectations of $47 to $55. 2. CoreWeave grew revenue to $1.9 billion in 2024, but remains unprofitable. 3. Microsoft contributed 62% of CoreWeave's revenue, raising concentration risk. 4. JPMorgan is a primary book-running manager for the CoreWeave IPO. 5. CoreWeave plans international growth and infrastructure expansion amid strong AI demand.