CoreWeave, a cloud computing company supported by Nvidia, announced the pricing of its initial public offering at $40 per share on Thursday, falling below its previously expected range. Founded in September 2017 as a crypto miner, CoreWeave later shifted its focus to providing cloud infrastructure services. The company has disclosed a debt of $8 billion by the end of last year, with a significant portion of its net cash dedicated to debt servicing. Microsoft is CoreWeave's largest client, contributing to 62% of its $1.9 billion revenue in the previous year. Additionally, CoreWeave faces challenges such as high debt levels, reliance on Nvidia chips, and significant sales dependency on Microsoft. The company recognizes fierce competition in the AI cloud infrastructure and software market, citing established players like Amazon Web Services (AWS), Google Cloud Platform, IBM, Microsoft Azure, and Oracle as competitors.