CoreWeave Stock Surges As Nvidia's AI Revenue Fires Up
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CoreWeave's stock surged 7.60% to $104.30 on Thursday, driven by Nvidia's strong Q2 earnings of $46.74 billion, up 56% year-over-year. The company's $4 billion funding for a new data center and positive analyst upgrades, including an Overweight rating from Cantor Fitzgerald with a $116 price target, contributed to the momentum. CoreWeave's growth is closely tied to Nvidia's AI infrastructure, benefiting from the increasing demand for AI and cloud data center GPUs. Analysts remain optimistic about CoreWeave's long-term prospects despite market volatility.
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