CoreWeave, a notable player in the AI sector, experienced a disappointing initial public offering (IPO), debuting with a valuation of $26 billion. Despite a 22% increase from its IPO last week, the company's stock has since fallen 21% following a tariff announcement by former President Donald Trump. This decline is mirrored by a 14% drop in shares of its primary supplier, Nvidia. The IPO has sparked discussions on Wall Street regarding chip depreciation and investor uncertainty in the AI market. Analysts suggest that the uneventful nature of CoreWeave's IPO may signal a broader caution for investors amid concerns of an AI bubble, as the sector faces challenges in securing funding during downturns. CoreWeave reported $1.9 billion in revenue but also faced $863 million in losses, raising questions about its business model, which relies on arbitraging scarcity rather than owning infrastructure.