CoreWeave insiders sell over $1B stock as IPO lock-up period expires: FT
Aug. 16, 2025 3:08 PM ET
By: Dulan Lokuwithana, SA News Editor
Morgan Stanley ( MS), JPMorgan Chase ( JPM), and Goldman Sachs ( GS) arranged more than $1B worth of block trades in CoreWeave (NASDAQ: CRWV) shares as investors of the AI hyperscaler rushed to offload stock ahead of an IPO lock-up expiry this week, The Financial Times reported.
According to people familiar with the matter, a flurry of deals occurred on Thursday evening, just before the expiry of CoreWeave’s (NASDAQ: CRWV) IPO lock-up, which freed up 84% of the company’s shares for trading later this week.
Among the insiders who offloaded stock at the time was Jack Cogen, a director of CoreWeave (NASDAQ: CRWV), who sold nearly $300M worth of shares, according to company filings.
Blocks as large as 6M shares have changed hands on Thursday, two people said, while a third person added that bankers were “surprised” by the number of people who were willing to sell CRWV shares just months after the company's public debut in March.
Morgan Stanley was once arranging a deal for a block of 8M CoreWeave ( CRWV) shares worth as much as $740M, according to two people close to the matter.
The Livingston, New Jersey-based company, which rents out cloud computing to AI-focused tech firms, lost more than a fifth of its value this week before the lock-up expiry after reporting a wider-than- expected loss for Q2 2025. |
