An up-and-coming company specializing in the hottest technology area decides to go public. It's teamed up with the most prominent player in that area. The company's initial public offering (IPO) is set to be the biggest for a tech stock in years.

Artificial intelligence startup CoreWeave's shares closed up 42% at $52.57 on Tuesday, their third day of trading, above their initial public offering price of $40.

The much-anticipated initial public offering (IPO) of CoreWeave ( CRWV -7.58%) came Friday. The stock ended the day where it started trading at its offering price of $40 per share. But stock in the artificial intelligence (AI) hyperscaler is plunging on its first full day of trading.

CoreWeave co-founder Brian Venturo knows that three hedge fund guys, turned crypto miners, now running AI training infrastructure has been a wild ride.

CoreWeave Inc. shares closed up 42% at $52.57 on Tuesday, marking a significant recovery in its third day of trading after the company's IPO.

There's growing concern that artificial intelligence hype is overblown, and that an economic downturn may be coming.

CoreWeave, a cloud computing company backed by Nvidia, priced its initial public offering at $40 per share Thursday, below its previously expected range.

CoreWeave has found a big market in selling Nvidia’s popular AI processors, but the company has a challenging story to sell to public investors.

CoreWeave sells access to Nvidia graphics processors as a service, allowing developers to rent chips by the hour so they can develop more advanced AI models.