Nvidia, CoreWeave and IPO
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CoreWeave received the most proceeds from a U.S. technology IPO since automation software maker UiPath went public in 2021.
Google is reportedly in advanced talks about renting Nvidia Blackwell chips from CoreWeave. As reported by The Information, citing "two people briefed about the situation," the search and cloud giant has also reached out to CoreWeave competitors to increase its access to AI chips.
The CoreWeave IPO will be another test for Nvidia and the near-term demand for AI chips. Read why I remain bearish on NVDA stock.
CoreWeave sells access to Nvidia graphics processors as a service, allowing developers to rent chips by the hour so they can develop more advanced AI models.
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Investor's Business Daily on MSNCoreWeave Adds To Rally Following Downsized IPO. Why Shares Could Stay Volatile.CoreWeave stock bounced around in Wednesday morning trading but was headed higher in recent action, tacking on more after a 40% rally Tuesday.
CoreWeave co-founder Brian Venturo knows that three hedge fund guys, turned crypto miners, now running AI training infrastructure has been a wild ride.
CoreWeave's IPO debut tests neocloud viability and reliance on Nvidia GPUs.
CoreWeave Inc. shares closed up 42% at $52.57 on Tuesday, marking a significant recovery in its third day of trading after the company's IPO.