AI Cloud Firm WhiteFiber Slips After $159 Million IPO (2)

WhiteFiber Inc.shares reversed an early gain to close below their initial public offering price, after the artificial intelligence infrastructure firm raised $159 million in an upsized first-time share sale.

Shares of the subsidiary of crypto treasury firm Bit Digital Inc. fell 4.6% to $16.22 on Thursday, versus an IPO price of $17 apiece and well below the opening trade of $25.

The trading gives WhiteFiber a market value of $590.7 million based on the outstanding shares listed in its filings.

WhiteFiber owns high-performance computing data centers and provides cloud-based HPC graphics processing unit services. The company offers cloud services ...