CoreWeave slumps with market as IPO research quiet period winds down

• April 21, 2025

** Shares of artificial intelligence startup CoreWeave C CRWV down 12.4% at $35.25 and dropping for fifth straight session amid broader weakness in equities on Mon as research quiet period draws to a close

** CRWV shares hit post-IPO lows as Wall Street tumbles after U.S. President Donald Trump takes aim at Fed Chair Powell, sending the Nasdaq Composite IXIC down 3%

** On Tues, Morgan Stanley, JP Morgan and Goldman Sachs are among an 18-firm underwriting group that will be allowed to begin coverage, in accordance with industry practice

** CRWV shares on Mar 28 finished flat at $40 after $1.5 bln IPO was slashed in size and priced well below expectations

** Chipmaker titan Nvidia NVDA , which had ~6% pre-IPO stake in CoreWeave, bought $250 mln worth of the offering's shares, Reuters reported

** Shares of AI poster child NVDA are down >5% on Mon. This as Huawei Technologies (HWT.UL) plans to begin mass shipments of its advanced AI chip to Chinese customers as early as May, sources told Reuters

** CRWV shares had zoomed as high as $64.62 on Apr 2, but have declined sharply since then

** IPO performance for some of this year's vintage has been dismal, while a trade war sparked by Trump has roiled markets