(Reuters) – Nvidia (NVDA)-backed cloud computing firm CoreWeave said on Thursday it had priced its initial public offering at $40 per share, compared with the earlier range of $47 to $55 per share.

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The IPO size was also reduced to about 37.5 million shares, compared with the 49 million shares that CoreWeave and some existing investors had planned to sell earlier.

(Reporting by Devika Nair in Bengaluru; Editing by Pooja Desai)