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CoreWeave stock surged 46.5% in June on optimism over AI growth and Nvidia partnership.

by Market News Data

Shares of CoreWeave (NASDAQ: CRWV) surged 46.5% in June, fueled by optimism over AI growth and impressive benchmarks running Nvidia’s latest chips. The company boasts the largest and fastest GB200 NVL72 cluster in the industry, showcasing its AI prowess and potential for continued success.

CoreWeave’s advantage may stem from Nvidia’s investment, giving them quicker access to the latest chips. The company’s partnership with Nvidia and IBM for MLPerf Training v5.0 benchmarks highlights its cutting-edge technology and potential market appeal to AI labs seeking advanced infrastructure.

While CoreWeave’s current relationship with Nvidia seems beneficial, there are risks involved. The company’s dependency on Nvidia for supply, investment, and customer demand creates a somewhat precarious position. Investors should consider the potential impact on CoreWeave if Nvidia faces significant competition or operational challenges in the future.

Read more at Nasdaq: Why CoreWeave Rallied 46.5% in June

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