Nvidia-backed cloud computing firm CoreWeave said on Thursday it had priced its initial public offering at $40 per share, compared with the earlier range of $47 to $55 per share.

US cloud services provider CoreWeave said it priced its initial public offering at $40 per share, allowing it to raise $1.5 billion — in an announcement a day before it starts trading in New York. The company,

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