Investors Gobble Up More Shares in CoreWeave (CRWV); Stock Adds Double-Digit Gains

We recently published a list of Small But Mighty: 10 Stocks That Stunned Wall Street Today. In this article, we are going to take a look at where CoreWeave, Inc. (NASDAQ:CRWV) stands against other stocks that stunned Wall Street on Monday.

CoreWeave jumped by 15.65 percent on Monday to close at $162.10 apiece as investors continued to gobble up shares in the company following its record-breaking performance results using Nvidia Corp.’s latest Grace Blackwell chips.

Last week, CoreWeave, Inc. (NASDAQ:CRWV) said in a statement 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 announcement followed its newly clinched $7-billion deal with Applied Digital Corporation (NASDAQ:APLD), covering 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.

Overall, CRWV ranks 3rd on our list of stocks that stunned Wall Street on Monday. While we acknowledge the potential of CRWV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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