NVIDIA Corporation (NVDA.US) made a lot of money! CoreWeave (CRWV.US) has risen by about 65% since the beginning of the year.

After a surge in stock prices this week, CoreWeave (CRWV.US) has risen by approximately 65% since its initial public offering earlier this year, with NVIDIA Corporation (NVDA.US) being one of the biggest beneficiaries of this increase. According to filings submitted by NVIDIA Corporation on Thursday, as of the end of March this year, the company held shares of CoreWeave worth nearly $900 million. Assuming NVIDIA Corporation has not reduced its holdings since then, the value of this portion of shares is now close to $1.6 billion, due to CoreWeave's skyrocketing stock price over the past month. CoreWeave is a company that provides cloud-based rental services for NVIDIA Corporation graphics processors for training AI models. It went public on the Nasdaq in late March, becoming the largest technology IPO supported by venture capital in the United States since 2021. Before going public, the company raised billions of dollars through equity and debt financing, with NVIDIA Corporation being a key investor. When filing for its IPO, NVIDIA Corporation held 17.9 million shares of CoreWeave, representing approximately 5% of the company's equity. However, according to updated filings on Thursday, NVIDIA Corporation's current holdings have increased to 24.2 million shares. During CoreWeave's IPO roadshow and search for investor support, the company had estimated an issue price range of $47 to $55 per share, but due to a prolonged downturn in the IPO market and cautious investor sentiment, NVIDIA Corporation stepped in to help. According to reports, the company subscribed to $250 million worth of shares at $40 per share to provide "stabilization" to the offering. Ultimately, CoreWeave completed its IPO at a price of $40 per share, raising $1.5 billion. Mike Intrator, CEO of CoreWeave, stated in an interview with CNBC after the IPO that NVIDIA Corporation is a "great partner" and described their relationship as "symbiotic." As of Thursday, CoreWeave's stock price closed at $65.77. The company's financial report released on Wednesday night showed a staggering 420% year-over-year revenue growth, far exceeding market expectations, further confirming the continued rise of the artificial intelligence trend.