Spinoffs & Takeovers Hotline – Friday, April 11, 2025
Article Excerpt
COREWEAVE INC., $43.75, symbol CRWV on Nasdaq, rents out AI servers.
CoreWeave operates a network of 32 data centres that house the chips and equipment the company rents out to clients, who in turn create and deploy their AI systems.
The company started up in 2016 as a crypto mining firm. After the 2018 bitcoin downturn, it had to find a new use for its idle servers, so it started renting them out for AI computing.
CoreWeave first sold shares to the public and began trading on Nasdaq at $40 on March 31, 2025. The company initially priced its shares for the IPO between $47 and $55, but settled on $40. However, the share price closed its first day of trading up 40%. It got as high as $61.36 before falling back into the $40-range due to the recent tariff-induced correction.
CoreWeave aims to take market share from Amazon’s AWS (Amazon Web Services), Microsoft’s Azure, Alphabet’s Google Cloud and Oracle.
Meantime, the company is very…
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