WhiteFiber (WYFI) priced its IPO at $17.00 – the high end of its $15.00-to-$17.00 range – and upsized the deal at pricing to 9.38 million shares – up from 7.81 million shares in the prospectus – to raise $159.38 million on Wednesday night, Aug. 6, 2025. WhiteFiber’s stock opened at $25.00 – up 47 percent from its IPO price – at 11:50 a.m. EDT today – Thursday, Aug. 7, 2025 – on the NASDAQ. Volume on that opening trade: 1.1 million shares. WhiteFiber’s stock was trading at $19.42 – up 14.2 percent from its $17.00 IPO price – at around 12:30 p.m. EDT today on volume of about 6.9 million shares for the day at that point.
WhiteFiber’s stock, however, broke issue price at about 1:30 p.m. EDT and stayed in the red through the closing bell – ending its first day of NASDAQ trading at $16.22 – down 78 cents for a loss of 4.59 percent. Volume was about 14.68 million shares.
B. Riley Securities was the lead left joint book-runner. Needham & Co. and Macquarie Capital were joint book-runners. Roth Capital was the lead manager. Craig-Hallum and Clear Street served as the co-managers.
At pricing, WhiteFiber had a market cap of $619.14 million.
WhiteFiber, based in New York with an office in Hudson Yards, provides AI infrastructure solutions – specifically, cloud services through its data centers, according to the prospectus. The company is incorporated in the Cayman Islands.
The profitable New York-based cloud services business was carved out of Bit Digital Inc., with WhiteFiber becoming a separate company upon completion of the IPO, the prospectus said.
“Our WhiteFiber cloud services business provides cutting-edge bespoke services involving a sophisticated array of computers and chips, including NVIDIA GPUs, servers, network equipment, and data storage solutions. As of June 30, 2025, WhiteFiber had approximately 4,500 NVIDIA GPUs deployed, with approximately 4,000 GPUs under contract,” WhiteFiber said in the prospectus.
“We believe we are a leading provider of artificial intelligence (“AI”) infrastructure solutions. We own high-performance computing (“HPC”) data centers and provide cloud-based HPC graphics processing units (“GPU”) services, which we term cloud services, for customers such as AI application and machine learning (“ML”) developers (the “HPC Business”). Our Tier-3 data centers provide hosting and colocation services. Our cloud services support generative AI workstreams, especially training and inference.”
The company is profitable. WhiteFiber reported net income of $1.97 million on revenue of $56.24 million for the 12 months that ended March 31, 2025, according to financial statements in the prospectus.
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