10:14 AM EDT, 03/27/2025 (MT Newswires) -- Nvidia ( NVDA )-backed (NVDA) CoreWeave plans to cut its initial public offering to about $1.5 billion, down from a previous target of up to $2.7 billion, according to multiple media reports Thursday.

The cloud computing company now intends to offer 37.5 million shares at $40 each, compared with its earlier plan of 49 million shares at $47 to $55, Bloomberg News reported, citing a source familiar with the matter.

Shares are set to be allocated to investors Thursday night, with trading expected to begin Friday, according to Semafor, which originally reported the plans.

CoreWeave did not immediately respond to a request for comment from MT Newswires.

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