%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment CoreWeave, an AI cloud service provider, faces challenging IPO demand as it prepares for its listing on Friday, according to multiple sources. Initially, the company aimed to sell 49 million shares priced between $47 and $55, but due to weak demand, the share price is said to have been reduced to $40. To support the IPO, NVIDIA (NASDAQ:NVDA), a major partner and GPU supplier for CoreWeave, is reportedly stepping in with a substantial $250 million order, according to a CNBC report citing a person familiar with the matter. CoreWeave, the first cloud provider to offer NVIDIA GB200 NVL72-based instances, boasts over 250,000 GPUs online. The company's IPO is being led by leading financial institutions JPMorgan (NYSE:JPM), Morgan Stanley (NYSE:MS), and Goldman Sachs (NYSE:GS). Despite reporting a significant revenue growth of 737% to $1.9 billion in 2024, CoreWeave also disclosed a net loss of $0.9 billion for the same year. The lackluster demand for CoreWeave's shares could be tied to broader market concerns, as indicated by recent developments with Microsoft (NASDAQ:MSFT), CoreWeave's largest customer. On Wednesday, TD (TSX:TD) Cowen's analyst Michael Elias noted Microsoft's pullback from data center leases in the U.S. and Europe, which may signal an oversupply issue in the market. Microsoft accounted for 62% of CoreWeave's 2024 revenue. CoreWeave's upcoming NASDAQ listing will be a test of investor confidence amid a shifting landscape for cloud services and data center demand. The IPO is expected to price tonight and open for trading tomorrow, under the ticker 'CRWV'.This content was originally published on http://Investing.com