CoreWeave (CRWV) Jumps 8% on Rosy Growth Prospects
CoreWeave, Inc. (NASDAQ:CRWV) is one of the 10 Stocks End Trading Week Soaring, Outshining Wall Street.
CoreWeave grew its share prices by 7.99 percent on Friday to hit a new all-time high, as investors continued to load up positions amid rosy growth prospects.
At intraday trading, shares of CoreWeave, Inc. (NASDAQ:CRWV) jumped as high as 10 percent to hit $187, before paring gains to finish the day at $170, as investors appeared to have flocked to the booming Artificial Intelligence industry for safety to mitigate risks from the ongoing geopolitical tensions.
In recent news, CoreWeave, Inc. (NASDAQ:CRWV) announced a record-breaking performance from using 2,496 of Nvidia Corp.’s latest Grace Blackwell Chips on its AI-optimized cloud platform, making its submission the largest-ever benchmarked under MLPerf.
In March this year, CoreWeave, Inc. (NASDAQ:CRWV) bagged an $11.9-billion deal with OpenAI and welcomed it as a new investor through the sale of $350 million CRWV stocks to the latter. Last month, OpenAI upsized the deal with another $4 billion worth of contract.
A close-up of a network administrator's hands working on a cloud computing server.
Last month, it was tapped by Aston Martin Aramco as its official AI cloud computing partner, where it will provide AI-accelerated engineering opportunities to support car design efficiency.
While we acknowledge the potential of CRWV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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