CoreWeave CEO Michael Intrator and entities linked to him have sold nearly $1 billion of stock, mostly under prearranged trading plans, since the AI cloud company's IPO in March 2025, according to regulatory filings cited by Reuters.
The sales totaled more than 10 million shares, according to the filings. As of Thursday's close, CoreWeave had a valuation of $38.44 billion. The sales began about two months after the stock hit a record high in June 2025. The shares have tumbled since and were on track to lose about 24% this week as investors worried about the Nvidia-backed company's heavy capital spending and the debt needed to fund it amid rising bets on interest-rate hikes.
The sales were made by Intrator and affiliated entities such as Omnadora Capital, where Intrator serves as managing member, and two trusts. Most of these sales, excluding roughly $40 million, were made under prearranged trading plans that allow executives to sell shares on a preset schedule, and do not necessarily reflect management's view of the business. The roughly $40 million that was not part of prearranged plans was sell-to-cover sales, where shares were sold on the market to pay taxes on vested stock.
The selling occurred as CoreWeave rapidly expanded its data-center footprint and increased spending on Nvidia chips to meet demand for AI computing, while building a revenue backlog of more than $129 billion. In August, the company raised its annual capital expenditure forecast to be between $35 billion and $39 billion. CoreWeave did not immediately respond to a Reuters request for comment.
Bloomberg reported, via Stocktwits, that all three CoreWeave founders — Intrator, Brian Venturo and Brannin McBee — have sold $3.3 billion worth of stock since the IPO. Nvidia CEO Jensen Huang pushed back against the pessimism, saying CoreWeave's strength is improving every day, according to the same report.