Nvidia-backed CoreWeave soars 100% since IPO as investors see AI demand outweighing ‘risky’ business model
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Nvidia-backed CoreWeave soars 100% since IPO as investors see AI demand outweighing ‘risky’ business model
CoreWeave (CRWV) stock has soared over 100% since its IPO in March. The S&P 500 gained a much more modest 7%. CoreWeave is one of the largest holders of Nvidia’s graphics processing units (GPUs) and rents its data center capacity to Big Tech firms such as Microsoft (MSFT) and Meta (META) Some analysts say the company’s business model is “very risky,” as it uses debt financing to purchase more of the latest Nvidia chips to stay competitive in the AI data center market. The stock dropped after the earnings call, dragged down by a higher-than-anticipated outlook for capital expenditures.
Source: Finance.yahoo.com | Read full article
CoreWeave stock slips as company discloses $23 billion capex plan, $4 billion OpenAI commitment
CoreWeave (CRWV) stock whipsawed Thursday as investors digested its high capital expenditure forecast and a new $4 billion deal with OpenAI. The company is one of the largest holders of Nvidia’s graphics processing units and rents its data center capacity to Big Tech firms such as Microsoft and Meta. CoreWeave executives said the company expects to spend $20 billion to $23 billion in 2025, more than the $18.3 billion projected by Wall Street analysts, according to Bloomberg consensus estimates. Even with Thursday’s dip, the stock was up more than 68% since its debut in March.
Source: Finance.yahoo.com | Read full article
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Source: https://finance.yahoo.com/news/nvidia-backed-coreweave-soars-100-since-ipo-as-investors-see-ai-demand-outweighing-risky-business-model-130033664.html