Latest news with #CoreWeave

This Is Why CoreWeave Stock (CRWV) Surged Today

Business Insider

2 hours ago

Business
Business Insider

This Is Why CoreWeave Stock (CRWV) Surged Today

CoreWeave (CRWV) shares jumped 6.2% in today's trading after the software infrastructure company announced that it will invest over $6 billion in a new artificial intelligence data center in Pennsylvania. The project was announced during the Pennsylvania Energy and Innovation Summit in Pittsburgh, which included President Donald Trump, lawmakers, and business leaders. The data center will begin with a 100-megawatt facility in Lancaster, about 70 miles west of Philadelphia, and will eventually expand to 300 megawatts as AI demand grows. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. CoreWeave CEO Michael Intrator stated that the company is building a cloud platform specifically for AI in order to meet the 'relentless' need for high-performance computing. Unsurprisingly, the new data center is expected to create economic growth in the region while also driving innovation. The announcement comes shortly after CoreWeave revealed its $9 billion acquisition of Core Scientific (CORZ), which is a company that provides data center infrastructure. This deal will give CoreWeave better access to power and real estate while cutting $10 billion in future lease costs. It is worth noting that CoreWeave was already a major customer of Core Scientific, so the move strategically improves its position in the AI infrastructure market. As a result, the new data center investment and acquisition will help CoreWeave scale faster in order to not only compete but also thrive in the booming AI market. Indeed, CoreWeave, which rents out access to Nvidia (NVDA) AI chips, has grown quickly since going public in March, as its stock has more than tripled from its opening price of $39. Is CRWV a Good Stock to Buy? Turning to Wall Street, analysts have a Hold consensus rating on CRWV stock based on four Buys, 15 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average CRWV price target of $99.39 per share implies 31.1% downside risk.

CoreWeave Commits $6 Billion for Data Center in Pennsylvania; Shares Jump

Yahoo

5 hours ago

Business
Yahoo

CoreWeave Commits $6 Billion for Data Center in Pennsylvania; Shares Jump

CoreWeave (CRWV) shares jumped on Tuesday as the artificial intelligence cloud computing firm said i

President Trump Pushes Investments to Power AI

Bloomberg

7 hours ago

Business
Bloomberg

President Trump Pushes Investments to Power AI

"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Senator Thom Tillis (R) North Carolina shares his thoughts on whether or not the Rescissions Package has enough votes to pass in the Senate. Andrew Hale, The Heritage Foundation Trade Policy Senior Policy Analyst, shares his thoughts on President Trump suggesting a 19% tariff on Indonesian goods coming into the US, and CoreWeave CEO Michael Intrator discusses the company's plan to invest as much as $6 billion to set up a data center in Lancaster, Pennsylvania. Lastly, Senator Tina Smith (D) Minnesota shares her thoughts on Congress working to possibly pass cryptocurrency legislation and why she believes there needs to be regulations. (Source: Bloomberg)

Cramer's Lightning Round: 'I'm going to have to take a pass on' Fluence

CNBC

8 hours ago

Business
CNBC

Cramer's Lightning Round: 'I'm going to have to take a pass on' Fluence

Fluence: "It's losing a lot of money, it's down 50%. I'm going to have to take a pass on that name." GE Vernova: "At this point, we're going to wait for GE Vernova to come in." Nebius: "CoreWeave. Just buy CoreWeave, don't deviate." Taiwan Semiconductor: "...I would rather just see what they report at this point." Quantum Computing: "It's a money-losing company, and if we get rid of the fervor for the moment about quantum, you'll be buying that $17 stock at $7. And that's what I worry about the most." Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest

CoreWeave CEO on AI Data Center Plans and Nvidia