This week brought a fresh set of challenges to the tech sector, beginning with an announcement from the US Bureau of Industry and Security on Tuesday (March 25) of new export restrictions targeting 80 companies across Asia and the Middle East,

CoreWeave co-founder Brian Venturo knows that three hedge fund guys, turned crypto miners, now running AI training infrastructure has been a wild ride.

CoreWeave’s initial public offering, which started trading today, had a rocky path to the market but delivered a windfall to Magnetar Capital. The investor bet big on the AI data center startup but presciently protected itself from the risk of big losses.

CoreWeave received the most proceeds from a U.S. technology IPO since automation software maker UiPath went public in 2021.

The cloud computing company’s cofounder Brannin McBee spoke to Forbes about the “important milestone” as shares started trading Friday.

Nvidia GPU and AI startup CoreWeave sets IPO at $51 per share, 47 million shares for market value of $2.7 billion with OpenAI and Microsoft benefiting.

One concern that may weigh on CoreWeave in particular, though, is whether the data center building boom will continue as smaller AI models that don’t need as much compute get more and more capable. Microsoft has abandoned some projects, and Alibaba’s chairman sounds worried about overbuilding for AI too — especially in China.