Cloud computing powerhouse CoreWeave is setting the stage for one of the year’s most anticipated IPOs. On Wednesday, the company revealed its initial share price range, aiming to sell shares between $47 and $55 each. At those prices, CoreWeave could raise between $2.2 billion and $2.6 billion from its stock market debut.
However, whispers across Wall Street suggest the company might be setting the bar low—on purpose.
Insiders familiar with the deal hint that CoreWeave had initially hoped to pull in at least $3 billion, with dreams of topping $4 billion if market conditions aligned. But seasoned IPO watchers know there’s often a strategy behind these pricing games. It’s common for companies and their bankers to float a conservative range to gauge investor appetite. Then, if demand surges, they hike the price before the first day of trading. This tactic builds hype, signaling strong interest from major institutions and sparking momentum when shares finally hit the market.
For now, it’s a waiting game to see if CoreWeave crosses the $3 billion mark. But the company isn’t sitting still. Since it publicly filed for the IPO, CoreWeave has locked down a massive $12 billion deal with OpenAI, supercharging its revenue pipeline. Adding even more credibility to its board, the company brought on tech veteran Meg Whitman, known for leading eBay and Hewlett Packard.
With the AI boom in full swing and CoreWeave positioned as a major player in cloud infrastructure, the final pricing and reception of this IPO could set the tone for tech listings in 2025.
