CoreWeave stock seesaws after IPO in first big test of AI trade

The AI cloud computing provider CoreWeave made its debut on the Nasdaq Friday under the ticker CRWV. The stock fell as much as 6% after shares before reversing direction and gaining over 1%.

The company, which provides computing power using its mass supply of Nvidia (NVDA) GPUs to Big Tech, raised $1.5 billion in its IPO — much lower than the $4 billion it had initially hoped to raise.