Insiders at American artificial intelligence (AI) startup CoreWeave (NASDAQ: CRWV) have been on a selling spree over the past three months, just as the company became a key player of semiconductor giant Nvidia (NASDAQ: NVDA).
According to insider trading activity during this period, top executives have sold more than $20 million worth of shares.
In particular, filings indicate that on March 3, board member Jack Cogen offloaded 453,680 shares at $47.56 each, totaling approximately $21.3 million.
General Counsel Kristen McVeety also sold 5,000 shares for $200,000 on March 27, at $40 per share.
However, not all insiders are heading for the exits. On the same day as Cogen’s massive sell-off, Glenn Hutchins and Karen Boone purchased nearly $1.8 million worth of CoreWeave shares, highlighting a split sentiment within the company’s leadership.
Nvidia’s CoreWeave investment
These insider moves come as Nvidia increased its stake in CoreWeave to 7%, investing $250 million during its March initial public offering (IPO).
CoreWeave, a provider of AI model training via rented Nvidia GPUs, went public on Nasdaq in late March, marking the largest U.S. venture-backed tech IPO since 2021. Ahead of its debut, the company raised billions in debt and equity, including funding from Nvidia.
At the time of its IPO filing, Nvidia held 17.9 million shares (5% stake). That stake has since grown to 24.2 million shares.
That vote of confidence paid off with CoreWeave shares skyrocketing from their $40 IPO price to over $80, a 100% gain in just weeks. CRWV stock closed the most recent trading session up 22%, ending at $80.
CRWV impressive Q1 earnings
Beyond Nvidia’s backing, CRWV has surged following its Q1 2025 earnings report on May 14, which revealed explosive growth driven by soaring demand for AI infrastructure.
The specialized cloud provider posted $982 million in revenue, up a staggering 420% year-over-year, continuing a strong growth trajectory that began in 2024.
CoreWeave attributed its momentum to overwhelming demand for its purpose-built AI cloud platform, supported by long-term contracts that provide revenue visibility, strong unit economics, and capital investments tailored to customer needs.
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