Why Shares of Nvidia-Backed CoreWeave Have Blasted 39% Higher This Week
Surging U.S. Treasury yields may be pressuring the broader market, but they aren't slowing down the artificial intelligence (AI) data center company CoreWeave (NASDAQ: CRWV). Since last Friday, the stock has blasted roughly 39% higher, as of 11:41 a.m. ET Thursday.CoreWeave is having a huge week, due to several big announcements. On Wednesday, shares surged after the Nvidia-backed company announced a $2 billion debt offering that matures in June 2023, with the notes yielding 9.25%. The raise came in half a billion dollars higher than expected and was reportedly five times oversubscribed, according to Barron's.Image source: Getty Images.Continue reading
Surging U.S. Treasury yields may be pressuring the broader market, but they aren't slowing down the artificial intelligence (AI) data center company CoreWeave (NASDAQ: CRWV). Since last Friday, the stock has blasted roughly 39% higher, as of 11:41 a.m. ET Thursday.
CoreWeave is having a huge week, due to several big announcements. On Wednesday, shares surged after the Nvidia-backed company announced a $2 billion debt offering that matures in June 2023, with the notes yielding 9.25%. The raise came in half a billion dollars higher than expected and was reportedly five times oversubscribed, according to Barron's.
Image source: Getty Images.
