Crypto miner turned AI provider CoreWeave adds billions in market cap — TradingView News
Shares of AI cloud computing company CoreWeave (CRWV) surged on May 16 after chip giant Nvidia revealed a large ownership stake, signaling growing corporate and institutional interest in the newly public company.
CRWV stock climbed as much as 26.3% in New York trading, pushing its market capitalization above $38 billion. Trading volumes were more than double the daily average, according to Yahoo Finance data.
The stock was last seen trading around $81, up 23% on the day.
CoreWeave’s rally was sparked by regulatory filings from Nvidia showing that the company owned $900 million of CRWV stock at the end of the first quarter. The value of the holdings has more than doubled since March 31, assuming Nvidia hasn’t sold any shares since…
