Sources say J.P. Morgan, Goldman Sachs, and Morgan Stanley managed several CoreWeave blocks

Stock Performance & Lockup Expiration - Coreweave's stock experienced a decline of approximately 2% following the expiration of the post-IPO lockup period [1][4] - The IPO included an unusual provision, leading to the lockup expiration for 837% of outstanding stock, equivalent to about 4017 million shares [1] - The typical 180-day lockup period would have been September 24th [1] Block Sales & Market Absorption - JP Morgan reportedly sold approximately 5 to 6 million shares in a block trade around $97, representing a $582 million trade [2][3] - Goldman Sachs and Morgan Stanley also executed block trades of similar sizes and pricing around the mid-$90s [3] - The market may require a period of approximately 6 weeks to absorb the increased supply of shares [3] Investor Motivation & Cap Table - Investors like Magnetar, CO2, Nvidia, and OpenAI may be motivated to sell portions of their stakes due to substantial paper gains, despite recent volatility [4] - Coreweave has a complex cap table with numerous private investors potentially seeking liquidity, making a traditionally marketed deal challenging [5] Additional Information - The Circle also implemented an early exemption from a lockup [6]