CoreWeave’s lukewarm IPO debut is failing to ignite the AI market

CoreWeave isn’t making much of a splash in its first day as a publicly traded company.

The stock opened at $39 per share, falling as much as 6% before reversing to rise about 4% to $41.59.

Investors had been eyeing the IPO as a barometer for the broader AI trade, which has struggled since DeepSeek made waves in January and as growth headwinds hurt enthusiasm for the biggest tech names. Investors and bankers had also hoped it could help thaw a market for IPOs…