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Today is the initial public offering for one of the most anticipated stock market listings of the year. Its the day when shares in AI infrastructure company CoreWeave, Inc. will begin trading. However, the companys public listing isnt without some last-minute surprises. Heres what you need to know about CoreWeaves IPO. What is CoreWeave, Inc.? CoreWeave, Inc. hasnt always been known by its current name. The company was originally founded in 2017 as Atlantic Crypto. As its original name suggests, the company operated in the cryptocurrency industry and focused on crypto mining infrastructure using graphics processing units (GPUs), notes CNBC. However, in 2019, the company pivoted and began offering its powerful GPU resources to companies working in the burgeoning AI space. Today, CoreWeaves main business is in providing AI infrastructure to AI companies. It operates data centers across the country that are full of powerful GPUsmainly from Nvidiaand offers the power of those GPUs out to companies over the cloud. In other words, CoreWeave provides the AI hardware infrastructure that AI software companies need. CoreWeave was founded by Mike Intrator, Brian Venturo, and Brannin McBee and is based in Livingston, New Jersey. CoreWeave lowers its IPO price CoreWeaves IPO has been one of the most anticipated of 2025. Not only will it act as a sort of bellwether for tech IPOs in the coming year, but some feel the markets reaction to its public offering could help signal how investors are feeling about a shaky stock market landscape that has been rattled in recent months by President Trumps unending string of tariffs. However, a last-minute change to CoreWeaves IPO price may suggest investor confidence in the IPO marketand the markets in generalis not as high as some would like. When CoreWeave originally filed its Form S-1 prospectus with the Securities and Exchange Commission, the company said it expected its IPO share price to be between $47 and $55 per share. However, Reuters reported yesterday that CoreWeave had decided to lower the price of its IPO shares from the $47 to $55 range to just $40 apiece. That reporting turned out to be correct, as CoreWeave confirmed soon after in a press release that its IPO share price would be $40. The business model doesnt appear fundamentally flawed, but this suggests investors are recalibrating AI infrastructure valuations, noted IPOX research analyst Lukas Muehlbauer. CoreWeave by the numbers According to the companys second amendment of its Form S-1 dated March 20, 2025, CoreWeave has the following metrics as of December 31, 2024: 2024 revenue of $1.9 billion. 2024 net loss of $0.9 billion. 2024 revenue growth of 737% over the year-earlier. 2024 operating income margin of 17%. More than 250,000 GPUs online. 32 data centers. On March 10, CoreWeave announced a deal with ChatGPT maker OpenAI to provide AI infrastructure to the company. In its S-1 filing, CoreWeave listed several growth opportunities that it believes it has. This includes continuing to acquire more workloads from its existing customers, expanding internationally, and acquiring new customers in new industries, including banks, high-frequency trading, and pharmaceutical companies. When is CoreWeaves IPO? CoreWeaves initial public offering is today, Friday, March 28, 2025. What is CoreWeaves stock ticker? CoreWeaves stock ticker is CRWV. What market will CoreWeave shares trade on? CoreWeave shares will trade on the Nasdaq Global Select Market. What is the IPO share price of CRWV? CoreWeaves IPO share price is $40 per share. How many CRWV shares are available in its IPO? There are 37.5 million Class A common shares available in CoreWeaves public offering. However, not all those shares are offered by the company itself. Of the 37.5 million shares, CoreWeave is selling 36,590,000 of them. The remaining 910,000 shares are sold by CoreWeaves existing shareholders. How much will CoreWeave raise in its IPO? CoreWeave will only receive the profits from the 36,590,000 it sells. That means CoreWeave potentially raised more than $1.46 billion in its IPO. What is CoreWeaves valuation? At its $40 per share IPO price, CoreWeave has a fully diluted valuation of around $23 billion, according to Reuters.
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E-Commerce
The U.S. government is on a global egg hunt, seeking exports from countries in Europe and elsewhere to ease a severe shortage that has caused egg prices at grocery stores to hit record highs.Germany, Italy, Poland, and Sweden are among the nations the U.S. Department of Agriculture approached to address the shortage brought on by a bird flu outbreak, according to European industry groups.But supplying Americans with eggs would be complicated for foreign producersand not because of political tensions over the myriad import tariffs President Donald Trump has imposed or threatened to impose on his nation’s top trading partners.Even if they were eager to share, European countries don’t have many surplus eggs because of their own avian flu outbreaks and the growing domestic demand ahead of Easter.One of the biggest obstacles, however, is the approach the United States takes to preventing salmonella contamination. U.S. food safety regulations require fresh eggs to be sanitized and refrigerated before they reach shoppers; in the European Union, safety standards call for Grade A eggs to be sold unwashed and without extended chilling.“These are two systems that could not be more different,” said Hans-Peter Goldnick, the president of the German Egg Association. Feathers on eggs at the supermarket It is common in parts of Europe, for example, for consumers to buy eggs that still have feathers and chicken poop stuck to them.Farmer David Karlsch described the simple process that gets eggs from hens to customers of the family-owned Saballus poultry farm in Schoeneiche, a town just outside Germany’s capital: The eggs are taken from nests, placed into cartons, and sold on the premises or from a refrigerated vending machine just outside the property.“The demand at Easter time is of course very, very high, as many children naturally want to paint eggs,” Karlsch said.Poland, a major egg exporter, fielded a U.S. query about the availability of eggs, according to Katarzyna Gawrońska, director of the National Chamber of Poultry and Feed Producers. The issue of washed versus unwashed was a major factor as European officials considered such requests, she said.Eggs are not cleaned in most of the 27 EU member nations because of concerns that removing the natural protective coating from eggshells makes them more vulnerable to bacteria, Gawrońska said.Polish veterinary officials are trying to determine if the country and its farmers can meet U.S. requirements, such as whether the exporting country has a comparable food safety inspection system or a significant bird flu outbreak. Powdered egg products Although European Union regulations state that table eggs “shall not be washed or cleaned,” member countries have some leeway if they authorized egg baths at packing plants decades ago.Danish Egg Association CEO Jrgen Nyberg Larsen said national customs are part of it; washed eggs are the norm in Sweden, for example. But Sweden and Norway have informed the U.S. they don’t have extra eggs to export, Larsen said.For now, any increased U.S. egg imports from Europe are more likely to arrive in powdered form or other products that can be shipped frozen or dried, Larsen said.That’s the response Poland’s trade association gave U.S. officials. If the U.S. certifies Poland as a source, the organization’s members would have a limited number of shell eggs to sell but could supply “very large volumes of egg processing products,” Gawrońska said.Processed eggs usually are pasteurized to prevent foodborne illnesses and then used in food manufacturing or by restaurants, hospitals, and nursing homes, according to the U.S. Department of Agriculture.Baked goods, pasta, and sauces like mayonnaise are some of the commercial products made with egg powder. Europe’s own production problems U.S. officials also tried to sound out farmers in northern Italy’s Veneto region for emergency egg supplies, according to Coldiretti, the main Italian agricultural lobbying organization.But Italy only produces enough eggs to cover the national demand, so most of the region’s producers said they could not help. Bird flu outbreaks since the start of last year also have taken a toll on the Italian poultry industry.Germany cannot contribute much either. Its domestic poultry industry generates about 73% of the eggs consumed in the country, “and we ourselves essentially have to import eggs from Holland every day to keep everyone satisfied,” the German Egg Association’s Goldnick said.“We have around 45 million eggs that we can collect from the chicken coops every day, and in America, there’s a shortage of around 50 million eggs a day. That shows how difficult it is,” he said. An improving U.S. market and Easter demand Other countries the U.S. government contacted include Austria, Norway, Spain, and Denmark. The U.S. Department of Agriculture said it secured new egg commitments from Turkey and South Korea in recent months, although it did not specify the amount or type.Imports of liquid, frozen, and dried eggs may help free up some domestic shell eggs for consumers, but the U.S. made its appeal for foreign eggs amid a significant deficit; last month, the country produced 720 million fewer table eggs than in February 2024, a decline of nearly 10%.The U.S. also cut its own egg exports to boost supplies at home, the Agriculture Department said.While the informal trade talks continue, the U.S. market has shown signs of improvement. It’s been nearly a month since a major bird flu outbreak impacted egg-laying hens, the department said. It reported the national wholesale price for large eggs dropped to $3.27 per dozen as of March 21, or less than half its peak of $8.15 per dozen on Feb. 21.U.S. consumers are just starting to see those falling wholesale prices translate to lower prices on grocery shelves, the department said. The big demand for eggs that usually accompanies Easter and Passover could cause prices to edge up again next month. Business is business Trump hasn’t exactly walked on eggshells with the people of Europe since starting his second term. The president’s repeated threats to seize Greenland, a Danish territory, infuriated many in Denmark. His posture toward Ukraine and disparaging remarks from top members of his administration have alarmed America’s European allies.The European Union, which is the third-largest trade partner of the U.S., was not exempted from the tariffs Trump ordered on steel, aluminum, and automobiles. Bracing for more, it has prepared counter-tariffs on American products.But many officials in Europe say none of that would rule out exporting eggs.Goldnick said an egg producer friend recently told him that “if the price is right, then I’ll deliver.” Any deals made or not would come dwn to business decisions, he said.“I have two souls in my chest. On the one hand, I would say, ‘No, we can’t support this system,’ but that’s not the right answer,” he said, referring to the new U.S. tariffs on European goods.“The right answer is we have to help where we can. And it concerns the people. It doesn’t concern the government. You wouldn’t prop them up or anything, but it’s just people’s demand at Easter, for eggs, and that’s just as important to satisfy in America as it is here.” Gera reported from Warsaw, Poland. Pietro De Cristofaro in Schoeneiche, Dee-Ann Durbin in Detroit, Giada Zampano in Rome and Josh Funk in Omaha, Nebraska, contributed to this report. Vanessa Gera and Kerstin Sopke, Associated Press
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E-Commerce
Ever since it became obvious that the iPhone was one of the most transformative consumer products in history, a question has been floating out there: Would its impact ever be matched by a device in an even newer category? And if something pulled it off, what would it be? After a decade and a halfso farwe arent any closer to getting answers. Yes, Apple has had its monster hits since then, especially the iPad, AirPods, and Apple Watch. But they havent been iPhone-size landmarks. Meta and others have poured billions into headsets and glasses with the explicit goal of replacing smartphones; still no iPhone. Imran Chaudhri and Bethany Bongiornoveterans of the iPhonetried to leap to the next level with their startup Humanes AI Pin, flopped, and recently off-loaded the remains to HP. I cant help feeling, though, that the most promising territory for the next great device is right there in front of us. Its our wrists, a location weve found handy for gadgets since the 19th century. Smartwatches demand no fundamental changes in human behavior to become part of our lives. By contrast, the AI Pinwhich you wore affixed to clothing, with your palm serving as the screen for its laser-projected interfacewas a failed bet on an altogether new experience. The fact that even the Apple Watch is merely an enormous success rather than an epoch-shifter doesnt mean the opportunity to create a radically new smartwatch is lost. After all, Apple didnt invent the smartphone. Contenders such as the BlackBerry and Palm Treo already existed. They were popular, even. Its just that the iPhone sprinted right past them into a new era of computing. It even surpassed fantasies about what an Apple smartphone might be like. (In 2009, I wrote about what most pundits had been expecting: pretty much an iPod that could make phone calls.) So as much as I cherish my Apple Watch, Id love to see a watch come along that makes it look like a BlackBerry. A few recent developments have had me thinking about that possibilityand, especially, the obstacles preventing it from happening. First, theres the future of the Apple Watch itself. Last week, Bloombergs Mark Gurman reported that Apple is investigating building cameras into its watchesnot for snapshot-taking or FaceTime calls, but to enable the companys Visual Intelligence AI. In theory, a camera-equipped Apple Watch could offer all sorts of new features based on it seeing the world around you, from better walking directions to nutritional information about food youre about to eat. It might have a shot at fulfilling some of the AI Pins utterly unfulfilled ambitions to weave AI into everyday life. Given Apples unsteady footing in AI (as exemplified by its ongoing failure to ship the new and improved Siri it first demonstrated last June) it would be ridiculous to get giddy over the prospect of Visual Intelligence on the Apple Watch. To be even mildly intrigued, you need to buy into Apple getting a lot better at conducting ambitious AI in real time, and doing it on a device greatly constrained by computing power, connectivity, and battery life. Still, it seems likely that someone will build serious AI vision into a smartwatch. One no-brainer candidate: Google, whose Lens AR technology has been useful for years and could become part of a future Pixel Watch. That brings up a fundamental issue with smartwatches, at least for iPhone users, and anyone who covets their business. Its that only Apple has a clear pathway to building an amazing new smartwatch that works with an iPhone. That is by design: The company provides itself with multiple custom affordances for integrating its phone and watch and is unwilling to share them with other manufacturers. For the decade-plus history of the Apple Watch, this fact has stunted the growth of the entire field. Back in 2012, before there was an Apple Watch, Eric Migicovskys Pebble helped create the smartwatch category. Migicovsky sold the company to Fitbit in 2016, ending its original run. Now hes back with a company called Core Devices that, as he told my colleague Jared Newman in February, is building a very slightly modernized version of what Pebble once offered. Its a sign of how slowly smartwatches have evolved that a minor upgrade to the 2016 Pebble actually sounds quite appealing. But in a blog post, Migicovsky wrote that the limitations Apple imposes on third-party smartwatches frustrate even Core Devices modest aspirations. His new smartwatch cant handle notifications as adeptly as an Apple Watch, is shut off from supporting SMS and iMessage, lacks an easy way to integrate with third-party iPhone apps, and cant access the internet if the Pebble app isnt running on the iPhone. The title of Migicovskys postApple restricts Pebble from being awesome with iPhonesconveys his bottom line, which is that Googles Android is a far friendlier platform than iOS for a company such as Core Devices. Migicovsky published his post on Monday of last week. Coincidentally, the European Commission dinged Apple the following day for the same kind of limitations that raised Migicovskys ire. However, the EC can do more than simply complain. In a ruling based on its Digital Markets Act, it has instructed Apple to make iOS work better with third-party smartwatches and other devices, providing a list of specific fetures (such as notifications) that the company needs to open up by the end of 2025. It also requires Apple to improve its communications with developers integrating products with its platform. As youd imagine, Apple is not looking forward to adjusting its product strategy and technical road map based on a government edict. Todays decisions wrap us in red tape, slowing down Apples ability to innovate for users in Europe and forcing us to give away our new features for free to companies who dont have to play by the same rules, the company grumbled in a statement. Its bad for our products and for our European users. We will continue to work with the European Commission to help them understand our concerns on behalf of our users. Apple hasnt yet explained its objections to the new EC ruling in detail. But it undoubtedly has several that go beyond its disinterest in helping other companies compete with the Apple Watch. For example, giving third parties more access to iMessage will introduce security issues that dont exist with the current closed loop between the iPhone and Apple Watch. Widening the deep iOS access that the Apple Watch enjoys to support other devices could also lead to a less reliable experience. The most likely outcome may resemble Apples compliance with an earlier EC ruling that forced it to enable competitive app stores. In that instance, the company acted grudgingly, making changes only in the EU and without any effort to create a great experience for anyone involved. I do hope theres at least a tiny chance that the ECs ruling leads Apple to make government-mandated lemons into lemonade. It could surprise us all by supporting other manufacturers smartwatches wholeheartedlynot just where its a legal requirement, and not in such a cumbersome fashion as to discourage anyone from taking advantage of it. This much seems certain: If Apple doesnt invent the next great wrist-worn gadget, somebody else will. Its kind of fun to think about that somebody else creating something so compelling that Apple sees welcoming it onto the iPhone as being in its own self-interestor at least a better option than giving iPhone fans any reason to even toy with the idea of switching allegiances. You’ve been reading Plugged In, Fast Company‘s weekly tech newsletter from me, global technology editor Harry McCracken. If a friend or colleague forwarded this edition to youor if you’re reading it on FastCompany.comyou can check out previous issues and sign up to get it yourself every Friday morning. I love hearing from you: Ping me at hmccracken@fastcompany.com with your feedback and ideas for future newsletters. I’m also on Bluesky, Mastodon, and Threads, and you can follow Plugged In on Flipboard. More top tech stories from Fast Company No one I know wouldve been this reckless: Ex-officials slam Trump team’s use of Signal for war planningFormer officials say the Houthi bombing chat reflects a deeper culture of security lapses and ethical blind spots. Read More AI is painful for journalists but healthy for journalismWhile media jobs may shrink, the values at the heart of good reporting could finally be rewardedif we shape the AI ecosystem the right way. Read More The living globe that can help drones fly without GPSMaxar’s detailed digital Earth joins a growing AI push to help robots orient themselves in the face of GPS attacks. Read More Archetype AI is like ChatGPT for the physical worldWhat happens when you feed an AI countless scientific readings? It learns physics, and how the world itself works. Read More TikTok is facing a rare meme drought. Inside the Great Meme Depression of 2025Creators are responding the only way they know howby turning the crisis into content. Read More The age of AI requires a new kind of leadershipRegenerative leadership can be an effective antidote to AI doomerism in the office, says this management expert. Read More
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