CoreWeave Inc.’s initial public offering was met with jeers on Wall Street — but don’t take that as an indictment on the artificial-intelligence trend more generally, according to some experts. While investors are now more nervous about the sustainability of AI spending,

The startup that rents out access to Nvidia chips priced its initial public offering below expectations and ended its first day of trading flat on Friday, a sign of flagging investor enthusiasm for artificial-intelligence companies as well as the chilly state of the U.

Shares of CoreWeave (CRWV) opened at $39 apiece during the company’s debut on Nasdaq on Friday afternoon, just under its initial public offering which closed Thursday evening. The cloud computing firm had sold roughly 37.

CoreWeave's IPO debut tests neocloud viability and reliance on Nvidia GPUs.

CoreWeave reduced the size of its U.S. initial public offering and priced its shares below the indicated range, the company said on Thursday, dampening expectations that the listing would boost investor appetite for IPOs.

CoreWeave, the cloud services startup backed by Nvidia, is finding that financial-market reality can be a lot harsher than the theoretical data its AI-powered systems analyze, train and deploy. Hyped as the hottest IPO of the year,