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Bloomberg News News IPO Reporter Ryan Gould and Bloomberg News Equities Reporter Bailey Lipschultz break down CoreWeave shares slipping on Friday in its market debut after the cloud-computing provider raised $1.5 billion in a downsized initial public offering.
The company’s stock opened at $39 each on Friday, below the $40 per share initial public offering. The cloud-computing provider sold 37.5 million shares at $40 apiece, down from an initial plan of 49 million shares at $47 to $55 each that might have raised as much as $2.7 billion.
Nvidia Corp., an existing investor in CoreWeave, anchored the share sale with an order of about $250 million, a person with knowledge of the matter told Bloomberg, asking not to be identified because the information was private. Representatives for Nvidia declined to comment.
Bloomberg News International Economics & Policy Correspondent Michael McKee discusses US PCE and consumer data. Bloomberg News Equities Reporter Carmen Reinicke explains why Reddit’s 50% plunge has failed to Entice dip buyers as growth slows. Joel Weber, Head of Bloomberg Explains, announces the launch of the Bloomberg Pointed News Quiz. JustAnswer CEO Andy Kurtzig discusses urging other tech leaders to join him in continuing the fight for Ukraine's freedom. And we Drive to the Close with Rob Thummel, Senior Portfolio Manager at Tortoise Capital.
Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.
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