Nvidia owned $900 million in CoreWeave stock as of March, filing shows
Nvidia owned nearly $900 million worth of shares in CoreWeave at the end of March, according to a filing from the chipmaker on Thursday. Assuming Nvidia hasn't sold any shares since then, that stake is now worth close to $1.6 billion, as CoreWeave's stock has surged in the past month.
CoreWeave, which rents out access to Nvidia graphics processing units for training artificial intelligence models, went public on the Nasdaq in late March in the largest U.S. venture-backed tech IPO since 2021. Leading up to its debut, the company raised billions of dollars in debut and equity, including from key supplier Nvidia.
At the time of CoreWeave's IPO prospectus, Nvidia owned 17.9 million shares shares for a stake worth around 5%. Nvidia now owns 24.2 million shares, Thursday's filing shows.
As CoreWeave courted investors in its roadshow, the company issued an expected pricing range for the IPO of $47 to $55 per share. But the market was jittery after an extended IPO drought. Nvidia stepped in, offering to anchor the deal at $40 per share with a $250 million order, CNBC reported.
CoreWeave ultimately sold shares to investors at $40 each, raising $1.5 billion in the process. Mike Intrator, CoreWeave's CEO, told CNBC just after the IPO that Nvidia is a "wonderful partner" and he called the relationship between the two companies "symbiotic."
By Thursday, CoreWeave investors had seen substantial gains, with the stock closing at $65.77. The company late Wednesday reported 420% revenue growth from a year earlier, beating analysts' estimates, a sign that the AI boom is continuing.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
GameSquare ETH Strategy Quickens With $70 Million Offering
By Exec Edge Editorial Staff GameSquare Holdings (NASDAQ: GAME) said it completed a $70 million public offering, fueling a major expansion into decentralized finance with the launch of a $100 million Ethereum-based treasury strategy. The capital raise significantly exceeded earlier expectations and provides the financial runway for GameSquare to invest in Ethereum (ETH) over time through a staged, risk-managed approach, it said. The strategy is designed to generate 8–14% annual yields, far outpacing traditional ETH staking returns of 3–4%. The move positions GameSquare, a media, entertainment and technology company, among the first publicly traded companies to deploy a large-scale, on-chain corporate treasury—a signal of growing institutional confidence in decentralized finance. 'This raise marks a pivotal milestone for GameSquare,' said Justin Kenna, CEO of GameSquare. 'It enables us to move with speed and scale to continue to build what we believe is one of the most ambitious Ethereum treasury strategies in the public markets.' GameSquare is partnering with crypto-native asset manager Dialectic, using its Medici platform to allocate capital across multiple Ethereum-based yield opportunities—ranging from staking and lending to liquidity provisioning and token incentives, it said. Dialectic's platform incorporates machine learning, real-time optimization, and layered risk controls. GameSquare's board has authorized the ETH investment strategy to scale over time, with flexible pacing based on market conditions and risk exposure, it said. Management sees the initiative as a way to diversify cash holdings, enhance financial returns, and strengthen the company's position in digital innovation. READ MORE GameSquare Unveils $100M Ethereum Strategy, Raises $8M in Public Offering Register for our weekly newsletter Contact: Exec Edge Editor@ Click to follow us on LinkedIn Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
19 minutes ago
- Business Wire
Rivian Announces New East Coast Headquarters in Atlanta
ATLANTA--(BUSINESS WIRE)--Rivian, Georgia Governor Brian Kemp, and Atlanta Mayor Andre Dickens today announced the American electric vehicle company will establish a new East Coast Headquarters in Atlanta, Georgia as part of its landmark investment in the state. The office will open in late 2025, followed by further expansion in 2026 as construction accelerates at the company's new manufacturing site in Social Circle, just outside the city. Rivian will occupy the top floor and lobby of Portman Holdings' Junction Krog District building at 667 Auburn Ave NE, adjacent to the famous Eastside Trail of the Atlanta Beltline—easily accessible by public transportation. Rivian expects to employ around 100 people at the site by the end of 2025, with around 500 people at the new headquarters when fully built. 'We are excited to establish our East Coast head office in Atlanta,' said Rivian Founder and CEO RJ Scaringe. 'Atlanta embodies so much that makes Georgia great—top talent, exceptional creativity, and a desire to always be moving forward.' 'Georgia is a prime location for any company headquarters, and we're glad to see Rivian will soon join the growing list of brands not only operating in our state but also wholly or partially based in our capital city,' said Governor Brian Kemp. 'They recognize the unmatched value of Georgia's talent and the location of their East Coast Headquarters in Atlanta is the latest demonstration of their commitment to the Peach State. I look forward to that commitment translating to new jobs and opportunities for hardworking Georgians.' 'Atlanta continues to lead in EV innovation and technology integration, and Rivian's growing presence here reinforces our city's role in shaping our future economy. The opening of this new office and event space reflects how Atlanta continues to engage the community in bold, creative ways,' said Mayor Andre Dickens. 'Thank you to the Rivian team for investing in our city and calling Atlanta home.' Rivian has invested significantly in the Peach State, beginning with its plans to build a 7,500-person manufacturing facility in Stanton Springs North, near Social Circle. Since then, the company has continued to develop strong relationships in the state and plans to establish partnerships with universities, technical colleges, and local, regional, and state institutions as it scales. About Rivian: Rivian (NASDAQ: RIVN) is an American automotive manufacturer that develops and builds category-defining electric vehicles and accessories. The company creates innovative and technologically advanced products that are designed to excel at work and play with the goal of accelerating the global transition to zero-emission transportation and energy. Rivian vehicles are built in the United States and are sold directly to consumer and commercial customers. The company provides a full suite of services that address the entire lifecycle of the vehicle and stay true to its mission to keep the world adventurous forever. Whether taking families on new adventures or electrifying fleets at scale, Rivian vehicles all share a common goal—preserving the natural world for generations to come. Learn more about the company, products and careers at
Yahoo
19 minutes ago
- Yahoo
Nvidia and University of Bristol debut UK's fastest AI supercomputer in sovereign AI push
Nvidia (NVDA) and the University of Bristol debuted the UK's Isambard-AI supercomputer on Thursday, part of Nvidia's push into so-called sovereign AI, or AI supercomputers built for individual nations. The fastest supercomputer in the country and one of the most energy-efficient supercomputers globally, the Isambard-AI supercomputer combines 5,448 Nvidia Grace Hopper superchips through a series of liquid-cooled HPE server cabinets packed with 440 GPUs each. The system is meant to perform research on everything from materials science to drug discovery to large language models designed for UK-specific languages such as Welsh. Impressively, according to University of Bristol professor Simon McIntosh-Smith, the entire system came together in less than two years. Normally, it takes more than three years to complete similar projects, McIntosh-Smith, who also heads the Bristol Centre for Supercomputing (BriCS), told Yahoo Finance. Researchers and companies will need to apply for access to the Isambard-AI supercomputer via the UK government's Department for Science, Innovation, and Technology. Supercomputers, however, don't just run individual tasks at once. Depending on the time of day, such systems can run a host of different experiments at the same time, helping to improve overall efficiency While the Isambard-AI supercomputer is powerful as far as research computers go, it's relatively small compared to the massive datacenter-scale systems companies like Amazon (AMZN), Google (GOOG, GOOGL), Meta (META), and Microsoft (MSFT) currently run. Those warehouse-sized computers require gigawatts, or 1 billion watts, of electricity to power tens of thousands of GPUs. The Isambard-AI supercomputer, meanwhile, uses 5 megawatts, or 5 million watts. According to McIntosh-Smith, the team at BriCS chose to use a liquid cooling solution rather than traditional air cooling with fans to keep the Isambard-AI from overheating, because it allowed them to pack more GPUs into a smaller space while improving overall energy efficiency. The university is also working on a pilot program that will use the hot wastewater from the supercomputer to heat campus facilities and eventually nearby homes and businesses. While the University of Bristol officially flipped the switch on Isambard-AI on Thursday, McIntosh-Smith said some researchers have already been running experiments on a test version of the system. Those include work on vaccines for Alzheimer's disease and image recognition to help machines better identify skin cancer. The Isambard-AI supercomputer is just one example of Nvidia's push into sovereign AI, which represents a new revenue stream for the company beyond individual tech companies. In May, CEO Jensen Huang attended an event held in Saudi Arabia where President Trump announced that he would allow Nvidia to sell thousands of GPUs to companies within the country. The administration also set up a plan to sell hundreds of thousands of chips to the United Arab Emirates, but officials are holding off on moving forward with the deal over concerns China could gain access to the technology, the Wall Street Journal reported Wednesday. And in June, Nvidia touted its expansion in Europe, announcing that companies across France, the UK, Germany, and Italy will build out or expand on their AI infrastructure. "Every industrial revolution begins with infrastructure. AI is the essential infrastructure of our time, just as electricity and the internet once were," Huang said in a statement at the time. "With bold leadership from Europe's governments and industries, AI will drive transformative innovation and prosperity for generations to come." The US still accounts for the majority of Nvidia's sales, making up $61.2 billion of the company's $130.4 billion in total revenue in its latest fiscal year. Taiwan and China made up $20.5 billion and $17.1 billion, respectively. Singapore saw $23.6 billion in sales, but Nvidia said the majority of those shipments are simply invoiced in the country and shipped elsewhere. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
