Why CoreWeave Rocketed as High as 26% Today
Shares of artificial intelligence (AI) "neocloud" company and recent IPO CoreWeave (NASDAQ: CRWV) rocketed higher Friday morning, increasing as much as 26.3% on the day, before settling into a 22.5% gain as of 1:15 p.m. ET.It's interesting the stock had such a big jump today, as CoreWeave reported first-quarter earnings on Wednesday night, leading to a modest gain in response yesterday.However, today's delayed jump today was likely fueled by two things. First, another two sell-side analysts raised their price targets on the company. Additionally, an SEC filing showed that chipmaker Nvidia (NASDAQ: NVDA) raised its existing stake in the data center operator shortly after its March IPO.Continue reading
Shares of artificial intelligence (AI) "neocloud" company and recent IPO CoreWeave (NASDAQ: CRWV) rocketed higher Friday morning, increasing as much as 26.3% on the day, before settling into a 22.5% gain as of 1:15 p.m. ET.
It's interesting the stock had such a big jump today, as CoreWeave reported first-quarter earnings on Wednesday night, leading to a modest gain in response yesterday.
However, today's delayed jump today was likely fueled by two things. First, another two sell-side analysts raised their price targets on the company. Additionally, an SEC filing showed that chipmaker Nvidia (NASDAQ: NVDA) raised its existing stake in the data center operator shortly after its March IPO.
