Coatue Management's billionaire chief is swapping out the brains of AI-powered data centers for a newly public AI stock with scorching-hot growth potential.
The selloff came as investors repriced risk across equities amid fears of persistently higher rates, sparked by soft demand at the 20-year Treasury auction.
CoreWeave, Inc. (NASDAQ:CRWV) shares hit a new all-time high on Wednesday. A series of recent developments have drawn investor attention to the AI infrastructure stock.
After Coreweave’s most recent jump, Nvidia’s 7% stake in the company is valued at around $2.42 billion, a paper profit of $2.07 billion on the $350 initially invested.
CoreWeave, a newly public company that NVIDIA holds a 7% stake in, is rising big-time. But, is this rise a sign of things to come, or a notice for caution?
U.S. stock markets ended the day higher, with the S&P 500 logging its fifth straight gain. The Nasdaq led the charge, jumping 4.36% to close at 19,215.46.
CoreWeave shares traded slightly higher Monday morning after a record week. Strong revenue growth, a large backlog and new financing support are fueling its AI ambitions.
Large-cap stocks surged in the last week. CoreWeave, Super Micro, Coinbase, NRG Energy, Astera Labs, First Solar, Exelixis, Rocket Lab, Hims & Hers, On Holding and Gap were the top performers.
Wall Street analysts raise PT on CRWV. JP Morgan maintains Overweight rating & raises PT from $43 to $66. Needham maintains Buy & raises PT from $55 to $78.
