CoreWeave director Boone buys $500k in shares

Karen Boone, a director at CoreWeave , Inc. (NASDAQ:CRWV), recently purchased a significant amount of the company's stock. According to a recent SEC filing, Boone acquired 10,520 shares of Class A Common Stock on March 3, 2025, at a price of $47.56 per share. This transaction, conducted through The Boone Family Trust, amounted to approximately $500,336. The purchase comes as CoreWeave's stock has experienced significant volatility, with a nearly 29% decline in the past week. InvestingPro data shows the company currently trades at $43.61, below Boone's purchase price.

The filing also detailed several other transactions. On April 6, 2025, Boone acquired 1,463 shares and 265 shares of Class A Common Stock, both transactions executed at no cost. These shares were acquired through the conversion of restricted stock units. The transactions occur as CoreWeave, with a market capitalization of $23.14 billion, maintains a GOOD overall financial health score according to InvestingPro analysis.

Boone's recent activity reflects a notable increase in her stake within the company, highlighting her continued confidence in CoreWeave's prospects. While the company currently operates at a loss, it maintains a strong gross profit margin of 74%. For deeper insights into insider trading patterns and 8 additional key ProTips about CoreWeave, visit InvestingPro.

In other recent news, CoreWeave has been in advanced discussions with Google (NASDAQ:GOOGL) to lease Nvidia (NASDAQ:NVDA) Blackwell chips, specialized for artificial intelligence applications. This potential agreement underscores the challenges faced by major Nvidia customers, including Google, in meeting the increasing demand for AI chip supplies. CoreWeave's strategic position with Nvidia and its focus on AI-centric data centers have attracted interest from significant cloud services and AI developers such as OpenAI and Meta Platforms (NASDAQ:META). Additionally, CoreWeave has been adjusting its financial strategy by reducing the size of its US initial public offering to approximately $1.5 billion. The company plans to offer around 37.5 million shares at $40 each, a change from the original proposal of 49 million shares priced between $47 and $55 each. This revised offering is expected to be announced soon. Meanwhile, CoreWeave's stock has shown a recovery after initial public offering challenges, with a notable increase in value. The ongoing demand for Nvidia GPUs highlights the importance of the potential deal with Google as companies seek to enhance their AI capabilities.

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