CoreWeave, Inc. shares climbed in overnight trading after it was revealed Jane Street had purchased a 5.4% stake in the artificial intelligence hyperscaler.
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 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 ) , JPMorgan Chase ( JPM ) , and Goldman Sachs ( GS ) arranged more than $1B worth of block trades in CoreWeave 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 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.
