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Chime, last valued at $25B, aims for $11B in upcoming IPO
Chime, last valued at $25B, aims for $11B in upcoming IPO

TechCrunch

time13 hours ago

  • Business
  • TechCrunch

Chime, last valued at $25B, aims for $11B in upcoming IPO

Chime, whose pending IPO is expected to be one of 2025's blockbuster hits, issued a share price range on Monday of $24 to $26. That's an up-to-$11.2-billion market cap. At the mid-range, the company will raise $800 million for itself and a handful of investors, including European VC powerhouse Cathay Innovation, who plan to sell some shares in the IPO. Even in these slow IPO times, this wouldn't be the biggest IPO of 2025. Coreweave, which raised $1.5 billion, and was valued at $23 billion, holds that title. This, even though Coreweave had hoped for far more from its IPO. Still, Chime's IPO is one to watch given that the company is reporting fast revenue growth and falling expenses. It reported $1.3 billion in revenue in 2023 and $1.7 billion in 2024 — and it has already booked over $518 million in the first quarter of 2025. Losses shrank from $203 million in 2023 to $25 million in 2024. The only black eye for Chime is that its last known private valuation was $25 billion, according to Pitchbook's estimates, far higher than this target. But that doesn't mean much. If investors are hot for this stock, it will price its IPO above the target range. And if retail investors want it on its first day of trading, its valuation will pop from there. And there's at least one strong indication that insiders think it will do that: Even with the thirst for liquidity in venture these days, aside from Cathay, Chime's largest shareholders are not, at this juncture, selling, according to its latest filing. We'll see if another filing reveals more insider sales. But other major investors that are holding their stakes include billionaire Yuri Milner's DST Global, Michael Stark's Crosslink Capital, and billionaire Len Blavatnik's Access Industries, as well as VC firms General Atlantic, Menlo Ventures (led by board member Shawn Carolan), and Iconiq, according to the paperwork. The IPO is currently expected to happen sometime during the week of June 9.

Nvidia (NVDA) Powers AI Stocks Higher Ahead of Its Q1 Earnings Report
Nvidia (NVDA) Powers AI Stocks Higher Ahead of Its Q1 Earnings Report

Globe and Mail

time5 days ago

  • Business
  • Globe and Mail

Nvidia (NVDA) Powers AI Stocks Higher Ahead of Its Q1 Earnings Report

AI stocks lit up the market on Tuesday as investor excitement built ahead of Nvidia's (NVDA) earnings release, due after the market closes today. While Nvidia saw a 3.2% increase, the real excitement came from companies within its orbit. Power chipmaker Navitas Semiconductor (NVTS) jumped nearly 50% after it announced a deal with Nvidia, while Coreweave (CRWV) and SoundHound AI (SOUN) also posted double-digit gains as investors bet on the strength of Nvidia's expanding ecosystem. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The rally extended beyond AI names. Broader indexes climbed, with the the Nasdaq 100 (NDX) up 2.5%, the the S&P 500 (SPX) rising 2.1%, and the Russell 2000 jumping 2.5%. Markets responded positively to President Trump's decision to delay a major tariff hike on European imports, along with an upbeat U.S. consumer confidence report. Navitas Skyrockets After Nvidia Deal Navitas Semiconductor became the day's standout performer, soaring nearly 50%. The spike followed an already massive 150% gain last Thursday after the company announced it would supply power chips for Nvidia's next-gen AI platforms. Navitas, previously valued at under $1 billion, has now positioned itself as a key piece of Nvidia's hardware puzzle, giving investors a compelling reason to pile in. Coreweave and SoundHound Ride the Nvidia Wave Nvidia's growing AI dominance is sending ripples far beyond the chip sector. Coreweave, a cloud computing company with deep Nvidia ties, jumped over 20%. Since going public in late March, the stock has more than tripled — a surge fueled by its role in running AI workloads using high-performance infrastructure. Meanwhile, SoundHound AI, a company specializing in voice recognition, gained 16% despite Nvidia exiting its stake last quarter. The company is up nearly 400% since Nvidia revealed its investment in early 2024. Just yesterday, Piper Sandler analyst James E. Fish called SoundHound an 'early leader' in conversational AI as they initiated coverage on the stock. They gave it an Overweight rating with a $12 price target, suggesting the shares could still rise about 7.9%. All Eyes on Nvidia's Results Now, all attention turns to Nvidia's Q1 earnings report. Wall Street expects Nvidia's Q1 FY26 earnings per share to surge to $0.73, up from $0.61 a year ago. At the same time, revenue is projected to climb more than 66% to $43.34 billion, according to TipRanks' analyst forecast page. More than just a chipmaker, Nvidia has become the face of the AI rally — and today's numbers could either strengthen that position or raise doubts about its momentum. Investors will focus not only on top- and bottom-line results but also on forward guidance, especially around AI demand, data center expansion, and new hardware partners. Many will also be listening for updates on the rollout of its next-gen Blackwell architecture, expected to play a big role in future revenue. A strong report could supercharge already hot AI names, while a disappointment may cool the frenzy. Is Nvidia Share a Good Buy? According to TipRanks, NVDA stock has a Strong Buy consensus rating based on 32 Buys, four Holds, and one Sell assigned in the last three months. At $164.21, the Nvidia stock price target implies a 21.19% upside potential.

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