Why CoreWeave Rallied Big Yet Again Today
Shares of artificial intelligence (AI) "neocloud" CoreWeave (NASDAQ: CRWV) rocketed higher another 19.2% on Monday as of 12:26 p.m. ET.The big move follows a big jump last Friday, two days after CoreWeave reported impressive first-quarter results, and Nvidia disclosed that it had increased its stake in the company.Today's move higher appears to be spurred on by two factors. One, a Wall Street analyst more than doubled his price target on the stock. Second, CoreWeave is tapping the debt markets again to fund its aggressive build-out -- and that debt offering was very oversubscribed.Continue reading
Shares of artificial intelligence (AI) "neocloud" CoreWeave (NASDAQ: CRWV) rocketed higher another 19.2% on Monday as of 12:26 p.m. ET.
The big move follows a big jump last Friday, two days after CoreWeave reported impressive first-quarter results, and Nvidia disclosed that it had increased its stake in the company.
Today's move higher appears to be spurred on by two factors. One, a Wall Street analyst more than doubled his price target on the stock. Second, CoreWeave is tapping the debt markets again to fund its aggressive build-out -- and that debt offering was very oversubscribed.
