Wall Street banks got meager payout from CoreWeave IPO

Wall Street banks eagerly awaited a billion dollar IPO from U.S. tech company CoreWeave, but the underwriting fees were lower than historical averages at just 2.8% of total proceeds. The lackluster performance of CoreWeave’s stock after its debut, coupled with concerns about its business model and debt levels, have dampened investor confidence in a market revival. Morgan Stanley, JPMorgan Chase, and Goldman Sachs led the deal, with Morgan Stanley potentially receiving over 30% of the total payout for its role as lead bank.

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