CoreWeave investors offload over $1 billion in shares after IPO lock-up period ends

According to a report by Jinse Finance, Morgan Stanley, JPMorgan Chase, and Goldman Sachs organized a block trade of over $1 billion in CoreWeave shares after insiders at the AI data center group sold their holdings for the first time since the company went public. Company documents show that as the lock-up period expired on Thursday evening, sellers included CoreWeave director Jack Cogen, whose sold shares were valued at nearly $300 million. By midday Friday, the stock price stabilized at around $100, after having dropped about 35% over the previous two days.