Firefly Shares Soar in Nasdaq Debut, Trump's Tariff Exemption Hopes Lift Futures

WhiteFiber's shares rose in their Nasdaq debut, while S&P 500 flattened due to a report that Waller is Trump's preferred Fed chair pick. Firefly Aerospace's shares set to open nearly 53% above their IPO price, and Datadog forecasted upbeat third-quarter results. Hut 8's Q2 revenue missed estimates, and CTW Cayman was added to the NASDAQ Composite Index.

WhiteFiber, Inc., a provider of artificial intelligence infrastructure solutions, saw its shares rise in its Nasdaq debut on Thursday, July 1, 2025, despite broader market fluctuations. The company priced its upsized initial public offering (IPO) at $17.00 per share, with a total of 9,375,000 ordinary shares sold. The shares are expected to trade under the ticker symbol "WYFI" on the Nasdaq Capital Market [1].

The IPO comes as WhiteFiber, a subsidiary of Bit Digital, Inc., seeks to spotlight and monetize its fast-growing AI infrastructure business. WhiteFiber's offering is seen as a strategic move to separate the high-growth infrastructure story from the volatility associated with cryptocurrencies. The company operates high-performance computing data centers and cloud services tailored to generative AI workloads [2].

WhiteFiber's IPO was oversubscribed, with B. Riley Securities and Needham & Company serving as joint book-running managers, alongside Macquarie Capital, Roth Capital Partners, Craig-Hallum, and Clear Street. The offering was priced at $17.00 per share, with an additional 1,406,250 shares available for purchase by underwriters at the initial offering price, less discounts and commissions [1].

The broader market saw mixed reactions to WhiteFiber's debut. While the company's shares rose, the S&P 500 flattened due to a report that former Federal Reserve Chair Janet Yellen is Trump's preferred pick for the Federal Reserve chair. Additionally, Firefly Aerospace's shares are set to open nearly 53% above their IPO price, and Datadog forecasted upbeat third-quarter results. Meanwhile, Hut 8's Q2 revenue missed estimates, and CTW Cayman was added to the NASDAQ Composite Index [3].

WhiteFiber's IPO offers investors a chance to invest in a pure-play AI infrastructure company with real customers and a meaningful revenue base. However, the road ahead is not guaranteed. The company will need to convert its pipeline into recurring, diversified revenue and maintain momentum beyond its initial growth spurt. Given Bit Digital's prior revenue miss, investors should remain cautious and grounded in WhiteFiber's current performance and execution timelines.

References:
[1] https://www.investing.com/news/company-news/whitefiber-prices-upsized-ipo-at-17-per-share-set-to-debut-on-nasdaq-93CH-4175065
[2] https://api.news.bitcoin.com/wp-json/bcn/v1/post?slug=decoding-whitefibers-ipo-bit-digitals-ai-infrastructure-arm-steps-into-the-spotlight
[3] https://www.investing.com/news/company-news/whitefiber-prices-upsized-ipo-at-17-per-share-set-to-debut-on-nasdaq-93CH-4175065