Shares of CoreWeave (CRWV) surged after Nvidia disclosed a significant ownership stake, indicating rising corporate and institutional interest. CRWV stock rose by 26.3% in New York trading, surpassing a market cap of $38 billion. Trading volumes doubled the daily average. Nvidia's regulatory filings revealed a $900 million stake in CRWV, which has doubled in value since March 31. Despite a 420% revenue increase in CoreWeave's first-quarter earnings, operating expenses spiked by 487%, leading to a widened net loss. The company's stock, which began as an Ethereum mining operation in 2017, transitioned to cloud computing services and saw a successful IPO launch. CoreWeave has also secured major investors like OpenAI. Positioned in the growing cloud computing industry, CoreWeave is poised to capitalize on the projected $2 trillion market by 2030, with the global cloud AI market estimated to reach $600 billion by 2032. Read more AI-generated news on: https://app.chaingpt.org/news
Growing Interest in CoreWeave As Nvidia Reveals Ownership Stake
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