Why CoreWeave Stock Was Soaring Today

One day after CoreWeave (NASDAQ: CRWV) got a boost from the blockbuster deal between Nebius and Microsoft, the stock was soaring again on Wednesday, driven by a combination of factors. First, management talked up its prospects at the Goldman Sachs Communacopia & Technology Conference yesterday.Oracle also gave blowout guidance in its earnings report last night, boosting artificial intelligence (AI) stocks across the board, and CoreWeave announced a new venture arm yesterday as well. A weak Producer Price Index (PPI) report also bolstered the chances for a Federal Reserve rate cut next week, which also favors CoreWeave.Altogether, there were plenty of reasons for investors to turn more bullish on CoreWeave, and AI more generally, and the stock was up 19% as of 1:53 p.m. ET.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool