CoreWeave's shares were set to open up to 25% above their offer price in the company's debut on the Nasdaq on Friday. The Nvidia-backed AI infrastructure firm's stock was indicated to trade at $50, compared with the IPO price of $40.

KEY TAKEAWAYS CoreWeave, a cloud computing company backed by Nvidia, priced its initial public offering at $40 per share Thursday, below its previously expected range.It was founded as recently as Sept.

The AI start-up priced its stock at $40, well below recent expectations for $47 to $55 a share. The listing has been seen as a test for both AI and the market for new stock.