CoreWeave stock rips higher
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Investor's Business Daily on MSNCoreWeave Adds To Rally Following Downsized IPO. Why Shares Could Stay Volatile.CoreWeave stock bounced around in Wednesday morning trading but was headed higher in recent action, tacking on more after a 40% rally Tuesday.
CoreWeave's shares closed flat after opening nearly 3% below their offer price in its Nasdaq debut on Friday, giving the Nvidia-backed AI infrastructure firm a valuation of $23 billion on a fully diluted basis.
We recently published a list of 10 Firms Outperform Broader Market on Tuesday. In this article, we are going to take a look at where CoreWeave Inc. (NASDAQ:CRWV) stands against other firms that outperform broader market on Tuesday.
CoreWeave rents out access to Nvidia graphics processing units to other large tech and AI companies including Meta, IBM and Cohere.
Seeking Alpha analysts have given sharply divergent ratings to Nvidia-backed CoreWeave (NASDAQ:CRWV), a provider of GPU infrastructure for AI development that went public on Friday via a $1.5B initial public offering.
Some saw the underwhelming performance of the Nvidia-backed AI cloud-computing provider as a bad sign for tech IPOs and AI, while others, including my colleague Jeremy Kahn, believe the reaction to CoreWeave reflects the challenges of being CoreWeave.
AI tokens, including NEAR, ICP, TAO and RENDER rose on Tuesday after OpenAI announced the closing of its record-breaking private funding round the day prior.
CoreWeave was falling early on Monday as investors continued to look skeptically at the cloud-computing company’s initial public offering. CoreWeave shares were down 5% at $38.00 in premarket trading,