AI Daily: AI startup CoreWeave opens for trading after downsized IPO

Catch up on the top artificial intelligence news and commentary by Wall Street analysts on publicly traded companies in the space with this daily recap compiled by The Fly:

OPENS FOR TRADING: CoreWeave (CRWV) opened for trading on March 28 at $39. The company priced 37.5M shares at $40.00, below the $47.00-$55.00 target range. The deal size was reduced to 37.5M shares from 49M. CoreWeave is an artificial intelligence startup backed by Nvidia (NVDA) that provides Microsoft (MSFT) and other clients with computing capacity from data centers.

AI AGENT: Manus, a computer-using AI agent that browses many websites to execute tasks like travel booking and stock analysis, attracted attention among tech executives and AI developers on X and other social media sites just days after its March beta launch, The Information’s Natasha Mascarenhas, Juro Osawa and Jing Yang write.

The hype around Manus stemmed in part from growing U.S. interest in Chinese-made AI products thanks to the huge success of DeepSeek, a Chinese-built large-language open-source model that claims to rival offerings from Microsoft-backed OpenAI’s ChatGPT and Meta Platforms (META) but using a much smaller budget. Butterfly Effect, the startup behind Manus, recently met in person and online with some U.S. investors to gauge their interest, according to sources. The company is likely to raise tens of millions in funding, the authors note.

FIRST INSTALLATION: Hyperscale Data (GPUS) is proud to announce the successful installation of its first Nvidia GPU deployment for a new Silicon Valley-based cloud services provider. This milestone marks a significant step in the company’s strategic transformation of its Michigan data center into a cutting-edge artificial intelligence and high-performance computing facility.