CoreWeave CEO Explains IPO Pricing: ‘That’s Where the Demand Was

 

CEO Mike Intrator acknowledged Friday that the company’s IPO pricing, which fell below initial expectations, must be viewed within the broader macroeconomic landscape.

“There are significant macro headwinds,” Intrator said on CNBC’s Squawk Box. “We had to scale or rightsize the transaction to align with where the buying interest was.”

CoreWeave, which provides access to Nvidia GPUs for AI training and workloads, priced its IPO at $40 per share—below the initial $47 to $55 per share range. The stock will debut on the Nasdaq under the ticker symbol “CRWV.”

According to sources familiar with the offering, the lower price created a sufficient discount to the company’s replacement value, helping investors feel more comfortable entering the market, CNBC’s Leslie Picker reported.

Approximately 10-15 long-term and strategic investors comprised the majority of CoreWeave’s backers, sources said.

“We believe that as the public markets become more familiar with us—our execution, infrastructure development, client relationships, and the immense capabilities of our solutions—CoreWeave will achieve great success,” CEO Mike Intrator stated.

Nvidia is supporting the offering with a $250 million order, CNBC reported Thursday.

At $40 per share, CoreWeave raised $1.5 billion, bringing its non-diluted valuation to approximately $19 billion.

Intrator stated that the company plans to use the funds for debt repayment and expansion.

At the end of 2024, CoreWeave carried nearly $8 billion in debt.

The company has also been driven by recent market momentum sparked by DeepSeek, which pushed CoreWeave to “build bigger” and “build faster,” Intrator said.

“One of the key factors behind our effectiveness is our long-term perspective on where this industry is heading,” he noted.

“Our customers are consistently telling us to keep building—we’re struggling to keep up with demand at this scale.”

Intrator also addressed past administrative challenges, including technical defaults on a loan last year.

CoreWeave began utilizing funds from its $7.6 billion loan to scale operations in Europe, according to The Financial Times.

CEO Mike Intrator acknowledged a previous administrative misstep, which the company self-reported in its S-1 filing and promptly resolved with lenders.

“These lenders went on to extend us hundreds of millions of dollars even after these issues were addressed,” Intrator said.

Read More

RCB Misses Out on Ashutosh Sharm: The Next Big Finisher in IPL 2025 Auction.

 

Ashutosh Sharma showcased his talent in IPL 2024 as a reliable finisher, capable of turning games around under pressure. Representing Punjab Kings in the 17th edition of the tournament, he delivered a few match-winning knocks in crucial chases.

As the IPL 2025 mega auction approached, Punjab Kings decided to release Sharma, putting him back in the auction pool. During the bidding war, Delhi Capitals aggressively pursued him and eventually secured his services for ₹3.8 crore.

RCB Kicked Off the Bidding War for Ashutosh Sharma

However, an average cricket fan might be surprised to learn that Delhi Capitals were not the first team to target Ashutosh Sharma. In fact, it was Royal Challengers Bengaluru who initiated the bidding and engaged in an early battle with Rajasthan Royals.

As the bidding war intensified, Delhi Capitals and Punjab Kings also jumped in, turning it into a fierce contest. After a back-and-forth tussle, it was the Capitals who eventually secured Sharma’s services. Given his impressive performances under pressure—especially against Delhi Capitals—RCB might now be wondering if pushing further in the bidding war could have strengthened their squad with more depth and flexibility.

Read More

Jan Schwieterman, Actor from ‘Good Burger,’ Passes Away at 52.

 

Jan Schwieterman, best known for playing the villainous Kurt Bozwell in the 1997 Nickelodeon film Good Burger alongside Kenan Thompson and Kel Mitchell, has passed away at 52.

Schwieterman died on Feb. 28 at Mercy Hospital in Washington, Missouri, as announced by his family. His brother, Chad, shared on Facebook that he had recently been diagnosed with an aggressive form of Stage 4 cancer.

In Good Burger, directed by Brian Robbins—co-creator of Nickelodeon's All That, which inspired the film—Schwieterman portrayed Bozwell, the ruthless owner of Mondo Burger, the rival restaurant of Good Burger, where Thompson’s Dexter and Mitchell’s Ed work.

Born on September 30, 1972, in Bluffton, Indiana, Jan Patrick Schwieterman was an Eagle Scout before moving to California after high school to pursue acting. He made his television debut in 1994 with roles on ABC’s McKenna and NBC’s ER.

Following appearances in three episodes of ABC’s Forever, he secured his role in Good Burger.

Schwieterman’s career also included playing Lewis in four episodes of Felicity during its first season (1998-99) on The WB. His film credits include Warlock III: The End of Innocence (1999), American Intellectuals (1999), Fallen Arches (2000), and his final role in Along the Way (2007).

His family shared that he had a passion for traveling and enjoyed playing Dungeons & Dragons.

He is survived by his parents, Clara and LeeRoy, his brother Chad, and his sisters, Megan and Vanessa. In his memory, donations can be made to the MD Anderson Cancer Center in Houston.

Read more...

Read More

Why a Showdown Between Fed Chair Powell and Trump Seems Unavoidable.

 

The Federal Reserve Board's highly anticipated quarterly economic forecast, set to be released Wednesday afternoon, is on a collision course with President Donald Trump's agenda.

While Fed Chair Jerome Powell has largely refrained from commenting on Trump's tariff threats and other significant policy moves, these actions are increasingly influencing the economic outlook for the year. As a result, central bank policymakers will need to provide some insight into how they believe the new tariffs could impact inflation, the labor market, and interest rates.

Despite a generally strong underlying economy, major banks like Goldman Sachs and JPMorgan Chase have lowered their projections for GDP growth this year.

Adding to the uncertainty, Trump's trade wars have increased the risk of a troubling scenario: rising inflation alongside slowing growth. This "stagflation" risk is challenging for the Fed to address effectively with its primary tool—adjusting interest rates.

While investors still anticipate rate cuts this year, they largely expect them to respond to a weakening economy rather than as a strategy to control inflation. As a result, Powell's efforts to stay out of the political spotlight may become more difficult, potentially leading to renewed clashes with Trump, who previously criticized the Fed chief for not reducing interest rates quickly enough.

Krishna Guha, vice chair at investment bank advisory firm Evercore ISI, noted, “It will be challenging for Powell to fully avoid the impact of Trump’s trade policies and other measures that are already influencing the economy.”

When Federal Reserve policymakers meet on Wednesday, they are expected to keep interest rates unchanged, maintaining stability amid uncertain financial markets and declining consumer confidence as Trump’s unpredictable tariff strategies unfold.

Higher tariffs on key U.S. trading partners could slow economic growth, potentially leading the Fed to reduce interest rates. However, these tariffs may also increase costs, driving up consumer prices. This inflationary pressure might force the Fed to maintain its current rate or, in a more drastic scenario, consider raising rates again.

Other government actions could also shape the economic outlook — while deregulation and tax cuts may stimulate growth, deportations could reduce the labor pool, leading to higher costs. At the same time, Elon Musk’s Department of Government Efficiency is implementing significant reductions in the federal workforce, which could extend to the private sector, potentially raising unemployment and complicating the Federal Reserve's efforts to stabilize the economy.

Trump acknowledged that the economy could experience “a period of transition” as tariffs take effect.

“What we’re doing is very big,” he said on Fox Business earlier this month. “We’re bringing wealth back to America. That’s a big thing, and there are always periods of, it takes a little time. It takes a little time, but I think it should be great for us.”

Commerce Secretary Howard Lutnick told CBS News last week that even if Trump's policies lead to a recession, it would be “worth it.” This statement came just days after he confidently asserted, “there’s going to be no recession in America.”

“The only reason there could possibly be a recession is because of the Biden nonsense that we had to live with,” Lutnick stated. “Trump’s policies generate revenue, drive growth, and result in factories being built here.”

However, the overall economic impact of these policies remains uncertain.

“Uncertainty is heightened, and that does seem to be having some negative effects, but so far they have not seen that spill over into real economic data,” said Matthew Luzzetti, chief U.S. economist at Deutsche Bank.

Luzzetti noted that the wide range of possible outcomes could lead Federal Reserve Chair Jerome Powell to emphasize the uncertainty surrounding their projections. The varying scale of potential tariffs could result in vastly different economic scenarios.

Before the Fed’s pre-meeting blackout—during which officials refrain from commenting on monetary policy—Powell stated that the central bank is closely monitoring whether a series of trade-related policy changes might lead to sustained price increases. He expressed concern that if businesses and consumers begin to expect continued inflation, it could become a self-fulfilling prophecy.

Adding to the complexity, inflation has been hovering above the Fed’s 2 percent target, increasing pressure on Powell to avoid lowering rates, even if the economy shows signs of slowing.

“Inflation is coming in hotter than they anticipated even before tariff-driven effects,” Luzzetti said. “The messaging should be one where they are kind of in a wait-and-see mode.”

Read More

Lionel Messi Scores on Comeback, Leads Inter Miami to CCC Quarterfinals.

 

Lionel Messi marked his return to action with a goal as Inter Miami secured a 2-0 victory over Cavalier FC in Jamaica on Thursday, sealing a spot in the Concacaf Champions Cup quarterfinals with a 4-0 aggregate win.

Coming off the bench in the second half, Messi provided a spark to Miami’s attack in his first appearance since February 25 against Sporting Kansas City. The Argentine star had missed three games due to load management, with head coach Javier Mascherano prioritizing his fitness to prevent injuries.

Messi entered in the 53rd minute, replacing Luis Suárez, drawing loud cheers from the crowd at Kingston’s Independence Park. He made his presence felt in the final moments of the match, scoring with a precise strike into the far corner. The goal was assisted by 18-year-old Santiago Morales, a rising talent who made his MLS debut earlier this season.

Ahead of Wednesday’s media session, Mascherano confirmed that Messi would travel with the team to Jamaica but remained tight-lipped about whether the legendary No. 10 would take the field.

“We knew that Leo hadn’t played in the last three or four games,” Mascherano said after Thursday’s match. “Obviously, we wanted him to play, but we needed to find the right moment to put him on the pitch.

“I think it was good because he felt great out there. He scored, and the fans in Jamaica got to see him play. So, overall, a fantastic night for everyone.”

Messi’s first official match in the Caribbean was highly anticipated. Upon arrival at the airport, he and his Inter Miami teammates received a warm welcome from Olivia Grange, Jamaica’s Minister of Culture, Gender, Entertainment, and Sport.

Cavalier FC, which typically plays in a 3,000-seat stadium, moved the Champions Cup match to Jamaica’s national stadium, boosting capacity to 35,000.

Miami entered the match with a 2-0 lead from the first leg at home, courtesy of goals from Tadeo Allende and Luis Suárez. 

They quickly extended their advantage in the first half of the second leg after earning a penalty when Allende was fouled inside the box. Suárez confidently converted the spot-kick, drilling the ball into the lower left corner.

With the victory, Inter Miami advances to the Champions Cup quarterfinals, where they will face LAFC, who defeated the Columbus Crew in the round of 16.

Read More