Why CoreWeave, Inc. (CRWV) Skyrocketed Today

We recently published a list of These 10 Stocks Are On Fire Right Now. In this article, we are going to take a look at where CoreWeave, Inc. (NASDAQ:CRWV) stands against other Wednesday's best-performing stocks.

CoreWeave rallied for a fourth consecutive day on Wednesday, jumping 8.39 percent to close at $163.10 apiece following the unveiling of record-breaking performance results using Nvidia Corp.’s latest Grace Blackwell chips.

In a statement, CoreWeave, Inc. (NASDAQ:CRWV) said that it used 2,496 Nvidia GPUs on its AI-optimized cloud platform, making its submission the largest-ever benchmarked under MLPerf.

CoreWeave, Inc. (NASDAQ:CRWV) said that the test was 34x larger than the only other submission from a cloud provider.

“AI labs and enterprises choose CoreWeave because we deliver a purpose-built cloud platform with the scale, performance, and reliability that their workloads demand,” said CoreWeave, Inc. (NASDAQ:CRWV) Chief Technology Officer Peter Salanki.

“These MLPerf results reinforce our leadership in supporting today’s most demanding AI workloads,” he added.

The unveiling followed the company’s new $7-billion deal with Applied Digital Corporation (NASDAQ:APLD), which covered two 15-year lease agreements, under which the latter will deliver 250 megawatts of critical IT load to host its artificial intelligence (AI) and high-performance computing (HPC) infrastructure at its Ellendale, North Dakota data center campus.

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Disclosure: None. This article is originally published at Insider Monkey.