Nearly $1 billion of CoreWeave stock has been sold by CEO Michael Intrator and entities linked to him since the company's IPO, mostly under prearranged trading plans. The shares are on track for a weekly loss of about 24% as investors weigh the company's spending and debt.
CoreWeave CEO Michael Intrator and entities linked to him have sold nearly $1 billion of stock since the AI cloud company's IPO in March last year, according to regulatory filings reported by Reuters. Most of the sales came under prearranged trading plans.
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.
What the filings show
The sales totaled more than 10 million shares, according to the filings. Intrator sold alongside affiliated entities, including Omnadora Capital, where he serves as managing member, and two trusts.
Excluding roughly $40 million, the sales were made under prearranged trading plans. Such plans let executives sell shares on a preset schedule and do not necessarily reflect management's view of the business.
The roughly $40 million outside those plans was sell-to-cover sales, in which shares were sold on the market to pay taxes on vested stock.
Spending and valuation
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.
As of Thursday's close, CoreWeave had a valuation of $38.44 billion. The company did not immediately respond to a Reuters request for comment.
Source: Investing.com (Reuters)
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