CoreWeave IPO Performance Likely Due To Company, Not AI Sector: Analyst Says 'Investor Sentiment Remains Mixed'

Backed by NVIDIA Corporation (NASDAQ:NVDA), cloud infrastructure company CoreWeave, Inc. (NASDAQ:CRWV) had one of the most anticipated IPOs in years with its market debut Friday.

Analysts share their reactions after the IPO priced below an expected range of $47 to $55 and closed its first day at $40, equaling its IPO price.

Rosenblatt on CoreWeave: The technology company's IPO debut was disappointing but could prove to be a positive for miners shifting to high-performance computing, Rosenblatt analyst Chris Brendler said in an investor note.

"The market has been taking a ‘glass half empty' approach lately, but we still think CoreWeave's IPO and HPC deal with Galaxy are positive developments for our bull case on miners," Brendler said.

The analyst said power is still in short supply and Bitcoin miners can supply large loads of power. Brendler said CoreWeave's IPO may be "disappointing ...