Why CoreWeave Stock Is Jumping
CoreWeave (NASDAQ: CRWV) stock was up 23.5% as of 3:15 p.m. ET Thursday. The S 500 and the Nasdaq Composite were up 1.8% and 3%, respectively.
CoreWeave, the fast-growing neocloud, is seeing shares rise alongside the entire market. After a brutal sell-off at the end of trading yesterday, the tech market is recovering behind a strong earnings report from the tech behemoth . Its report, alongside 's, showed demand for AI compute is still while-hot.
Microsoft said its cloud platform Azure grew by a whopping 43% year over year behind continued AI demand. The company is scaling rapidly and relying heavily on leasing, signing more than $130 billion in new data center leases during the quarter. That's a jump of over two-thirds from the previous quarter.
Source Fool.com
Microsoft Corp. Stock
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