CoreWeave climbs after Jane Street acquires 5.4% stake

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CoreWeave (NASDAQ:CRWV [https://seekingalpha.com/symbol/CRWV]) shares climbed during early post-market trading Wednesday after it was revealed Jane Street had purchased a 5.4% stake in the artificial intelligence hyperscaler.

The quantitative trading firm now holds a total of 19.99M shares of CoreWeave, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.

According to recent filings, Jane Street is now the fourth largest shareholder of CoreWeave, which recently launched its initial public offering in late March. The only entities holding more shares include Magnetar Financial at 25%, FMR at 6.75% and Nvidia (NVDA [https://seekingalpha.com/symbol/NVDA]) with 6.55%.

CoreWeave's IPO lock-up period expired at the end of the market day on Thursday, August 14, which freed up 84% of the company’s shares for trading. Morgan Stanley (MS [https://seekingalpha.com/symbol/MS]), JPMorgan Chase (JPM [https://seekingalpha.com/symbol/JPM]), and Goldman Sachs (GS [https://seekingalpha.com/symbol/GS]) arranged more than $1B worth of block trades in CoreWeave (NASDAQ:CRWV [https://seekingalpha.com/symbol/CRWV#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]) shares as investors of the AI hyperscaler rushed to offload stock ahead of an IPO lock-up expiry.

CoreWeave priced its IPO at $40 on March 28. Shares more than quadrupled over the next three months, hitting an all-time high of $183 in late June. Its share price slowly started returning to earth before a run-up ahead of its second quarter financial report [https://seekingalpha.com/news/4484636-coreweaves-long-term-growth-story-remains-intact-but-analysts-identify-near-term-overhangs] on August 12. Shares have since cooled down again, falling more than 35% since its earnings report. However, they remain up 132% since its IPO.

MORE ON COREWEAVE

* CoreWeave: I Hope You Took Money Off The Table (Upgrade) [https://seekingalpha.com/article/4815318-coreweave-hope-you-took-money-off-the-table-upgrade]
* CoreWeave Q2: Mispriced... But A Breakout Is Coming [https://seekingalpha.com/article/4814797-coreweave-q2-mispriced-but-a-breakout-is-coming]
* CoreWeave: Further Upside Momentum Is Possible [https://seekingalpha.com/article/4814282-coreweave-further-upside-momentum-possible]
* SA Roundtable: Which companies are likely to be acquired soon? [https://seekingalpha.com/news/4484879-sa-roundtable-which-companies-are-likely-to-be-acquired-soon]
* CoreWeave insiders sell over $1B stock as IPO lock-up period expires: FT [https://seekingalpha.com/news/4486309-coreweave-insiders-sell-1b-stock-amid-lock-up-expiry]