CoreWeave (CRWV) Jumps on Strong Investor Confidence

CoreWeave, Inc. (NASDAQ:CRWV) is one of the 10 Stocks Boast Whopping Gains Amid Market Downturn.

CoreWeave rallied by 8.47 percent on Tuesday to close at $171.93 apiece, hitting a new all-time high on continued investor excitement over artificial intelligence.

In recent news, CoreWeave, Inc. (NASDAQ:CRWV) announced record-breaking performance results using Nvidia Corp.’s latest Grace Blackwell chips.

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.

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.

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