Nvidia-backed CoreWeave plans to downsize much-anticipated U.S. IPO

CoreWeave plans to reduce the size of its U.S. initial public offering and price the shares below range, a person familiar with the matter told Reuters on Thursday. The Nvidia-backed (NVDA-Q) cloud services provider is now looking to sell 37.5 million shares and price them below the range at $40 apiece, the source added, requesting anonymity discussing confidential information. The sale would fetch up to $1.5 billion. The listing is being closely watched as a test for the fragile U.S. IPO market and a gauge of whether investor enthusiasm for AI newcomers remains strong or is waning. CoreWeave and some…