The three co-founders of CoreWeave, one of the neocloud providers whose credit risk has surged as interest rates climbed, have sold a combined $3.3 billion worth of stock since the company's initial public offering in March last year.
Michael Intrator, Brian Venturo and Brannin McBee sold $3.3 billion in shares following the March 2025 IPO, including $2.4 billion offloaded this year alone, Bloomberg reported on the 15th.
Compared with June last year, when the stock peaked, the value of the three men's holdings has shrunk by about $15 billion. The share price soared to roughly 3.5 times its offering price within three months of the IPO, then plunged more than 60% from that high. The stock is down about 50% over the past year.
The slide reflects mounting investor anxiety as credit concerns have grown. A CoreWeave spokesperson said the three currently hold about 20% of the company, making them among its six largest shareholders, and described the sales as routine portfolio diversification by founders with large stakes. Bloomberg reported that the trio also cashed out $488 million in 2023 and 2024, before the listing, through tender offers filed with the U.S. Securities and Exchange Commission.
Nvidia, which holds a 10% stake in CoreWeave, moved to tamp down the concerns, saying the risk of a credit event at the company is low. Asked about the recent speculation over CoreWeave's finances at an event in Stockholm the same day, Nvidia Chief Executive Jensen Huang said the company's financial strength is improving by the day, that he views it optimistically and that its cost of capital is actually trending lower. He added that Nvidia does not need to bail out CoreWeave financially.