CoreWeave Inc. slipped 2.5% in its market debut after the cloud-computing provider raised $1.5 billion in a downsized initial public offering.

The company’s stock opened at $39 each on Friday, below the $40 per share initial public offering. The cloud-computing provider sold 37.5 million shares at $40 apiece, down from an initial plan of 49 million shares at $47 to $55 each that might have raised as much as $2.7 billion.