Reported 3 months ago
CoreWeave Inc. experienced a remarkable 22% increase in share price, reaching a record high on Friday after Nvidia Corp. announced a larger stake than expected in the cloud-computing firm. Nvidia now holds 7% of CoreWeave's outstanding stock, reflecting its support during CoreWeave's initial public offering. Despite recent financial losses, CoreWeave is expanding to meet the rising demand for AI computing, significantly benefiting from Nvidia's supply of crucial data center components.
Source: YAHOO