Core Wave CEO Liquidates $1B Shares
Reports indicate that Michael Intrar, CEO of CoreWAVE, sold shares in the company valued at nearly one billion dollars since its initial public offering in March 2025, as part of pre-trading plans. These sales come at a time when the stock price has declined by approximately 24% over the past week, amid fears of massive spending on infrastructure expansions and rising debt levels, amid increasing expectations of interest rate hikes. Disclosures show that the sales exceeded 10 million shares, and the company's expenditures on data centers and AI chips have increased, with capital expenditure projections ranging between $35 billion and $39 billion annually to expand its infrastructure.
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