Key facts
- CEO Michael Intrator and affiliated entities sold nearly $1 billion of stock since CoreWeave's March 2025 IPO.
- Sales totaled over 10 million shares, with the company valued at $38.44 billion as of Thursday.
- Most sales were under prearranged trading plans; $40 million were sell-to-cover for taxes.
- CoreWeave is expanding data centers and spending on Nvidia chips amid a $129 billion revenue backlog.
- Annual capital expenditure forecast raised to $35 billion-$39 billion in August.
CoreWeave CEO Michael Intrator and entities linked to him have sold nearly $1 billion of stock since the AI cloud company's IPO in March 2025, according to regulatory filings. The sales began about two months after the stock hit a record high in June 2025. The shares have tumbled since, and were on track to lose about 24% this week as investors worried about the Nvidia-backed company's heavy capital spending and the debt needed to fund it amid rising bets on interest-rate hikes. The sales totaled more than 10 million shares, with CoreWeave having a valuation of $38.44 billion as of Thursday's close. Most of these sales, excluding roughly $40 million, were made under prearranged trading plans. The roughly $40 million that was not part of prearranged plans were sell-to-cover sales to pay taxes on vested stock. The selling occurred as CoreWeave rapidly expanded its data-center footprint and increased spending on Nvidia chips to meet demand for AI computing, while building a revenue backlog of more than $129 billion. In August, the company raised its annual capital expenditure forecast to be between $35 billion and $39 billion.