CoreWeave, Inc. (CRWV) shares tumbled 5.11% in early intraday trading on Tuesday, as investors reacted to a regulatory filing revealing a significant planned insider stock sale.

The decline came despite the company announcing that Flow Traders had selected CoreWeave as its primary AI cloud provider for foundation model training. According to a Form 144 filing, CoreWeave officer Brannin McBee plans to sell 144,000 shares of common stock with an estimated aggregate market value of approximately $10.35 million. The shares derive from founder shares acquired in February 2019, and the sale is set to be executed through Morgan Stanley Smith Barney LLC.

The insider selling plan appeared to overshadow the positive partnership news with Flow Traders, which involves dedicated compute capacity for training AI-driven quantitative trading models. The juxtaposition of an officer cashing out a sizable stake while the company announces new business wins may have raised concerns among investors about insider sentiment.