US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/coreweave-inc" target="_blank" data-smartkarma-citation="entities:44471:1" rel="noopener">CoreWeave (CRWV US)</a> is forecasted to be added to snp TMI at the June 2025 review after failing the fast-entry fcap threshold of $2bn. </li>
<li>
<a href="https://www.smartkarma.com/entities/coreweave-inc" target="_blank" data-smartkarma-citation="entities:44471:1" rel="noopener">CoreWeave (CRWV US)</a> is ineligible in 2025 for inclusion to Global-F and rasel due to public voting rights below 5%. </li>
<li>Lock-Up expiry causes free float thus public voting rights to increase above 5%. Addition to Global-F SmallCap and R1000 is expected in March and June 2026, respectively.
</li>
</ul>



CoreWeave (CRWV US) is forecasted to be added to snp TMI at the June 2025 review after failing the fast-entry fcap threshold of $2bn. 

CoreWeave (CRWV US) is ineligible in 2025 for inclusion to Global-F and rasel due to public voting rights below 5%. 
Lock-Up expiry causes free float thus public voting rights to increase above 5%. Addition to Global-F SmallCap and R1000 is expected in March and June 2026, respectively.



CoreWeave (CRWV US): Global & US Index Exclusion Over Low IPO Float & Public Voting Rights

US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>CoreWeave priced a downsized IPO — 37.5 million shares at $40.00 — well below the marketed $47–$55 range.</li>
<li>He debut was muted (opened at ~$39 and closed at the $40 IPO price), but the stock ripped higher in the weeks that followed and peaked at $187 in June.</li>
<li>By late October CoreWeave ranked among the top performing 2025 IPOs, sitting behind Circle Internet Group and Karman Holdings in aftermarket returns.</li>
</ul>


CoreWeave priced a downsized IPO — 37.5 million shares at $40.00 — well below the marketed $47–$55 range.
He debut was muted (opened at ~$39 and closed at the $40 IPO price), but the stock ripped higher in the weeks that followed and peaked at $187 in June.
By late October CoreWeave ranked among the top performing 2025 IPOs, sitting behind Circle Internet Group and Karman Holdings in aftermarket returns.


CoreWeave Inc (CRWV): Six Month Summary: AI Hyperscaler that Re-Priced the IPO Playbook

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>In its second quarter of 2025, CoreWeave showcased significant growth amid strong demand for AI cloud services.</li><li>The company's revenue soared by 207% year-over-year, reaching $1.2 billion, with an adjusted operating income of $200 million.</li><li>This marked the first instance of CoreWeave achieving both $1 billion in revenue and $200 million in operating income in a single quarter.</li></ul>

In its second quarter of 2025, CoreWeave showcased significant growth amid strong demand for AI cloud services.The company's revenue soared by 207% year-over-year, reaching $1.2 billion, with an adjusted operating income of $200 million.This marked the first instance of CoreWeave achieving both $1 billion in revenue and $200 million in operating income in a single quarter.

CoreWeave Lands $14.2 Billion Meta Deal — Is This The Tipping Point For AI Cloud Domination?

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.</li>
<li>Speculative Growth Themes Still Leading; Nuclear Stocks are Going... Nuclear. We highlight many speculative stocks to buy that we believe will continue to outperform into year-end</li>
<li>Software (IGV), semiconductors (XSD), (IPO), ARK (ARKK and ARKW), uranium (URA), hydrogen (HYDR), quantum computing (IONQ, RGTI, QUBT, QBTS), A.I., nuclear, robotics, drones, autonomous driving, EV batteries, energy storage,bitcoin,data centers</li>
</ul>


We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.
Speculative Growth Themes Still Leading; Nuclear Stocks are Going... Nuclear. We highlight many speculative stocks to buy that we believe will continue to outperform into year-end
Software (IGV), semiconductors (XSD), (IPO), ARK (ARKK and ARKW), uranium (URA), hydrogen (HYDR), quantum computing (IONQ, RGTI, QUBT, QBTS), A.I., nuclear, robotics, drones, autonomous driving, EV batteries, energy storage,bitcoin,data centers


Going Nuclear $LTBR $LEU $NNE $OKLO $SMR; Russell 2000 Breakout to All-Time Highs; Still Bullish

AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Despite a 307% surge in revenue, CoreWeave's extended six-year GPU depreciation schedule flatters its profitability while masking faster asset wear-down.</li>
<li>Despite ballooning into a $30 bn market cap, CoreWeave is weighed down by debt and lease obligations; Q2 interest expense exceeded operating profit, with CRWV netting $290 m in losses. </li>
<li>The Aug 15 IPO lock-up expiry triggered insider selling via $1 bn+ block trades, driving a 35% stock plunge and spiking short interest.</li>
</ul>


Despite a 307% surge in revenue, CoreWeave's extended six-year GPU depreciation schedule flatters its profitability while masking faster asset wear-down.
Despite ballooning into a $30 bn market cap, CoreWeave is weighed down by debt and lease obligations; Q2 interest expense exceeded operating profit, with CRWV netting $290 m in losses. 
The Aug 15 IPO lock-up expiry triggered insider selling via $1 bn+ block trades, driving a 35% stock plunge and spiking short interest.


CoreWeave’s Growth Meets Debt-Heavy Risk

United States

CoreWeave, Inc. provides software solutions and cloud services. The Company offers cloud infrastructure platform that manages the complexity of engineering, assembling, running, and monitoring state-of-the-art infrastructure at a massive scale to deliver high performance and efficiency to AI workloads. CoreWeave serves customers worldwide.

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CoreWeave (CRWV US)