Why CoreWeave, Inc. (CRWV) Soared On Thursday
From Yahoo Finance: 2025-05-01 20:12:00
The stock market saw a strong finish on Thursday, with major indices in the green thanks to impressive corporate earnings, particularly from tech giants. The Nasdaq led the rally with a 1.52% gain, followed by the S&P 500 at 0.63% and the Dow Jones at 0.21%.
CoreWeave, Inc. (CRWV) saw a 7.31% increase in stock prices on Thursday, closing at $44.32 per share. This surge was fueled by Microsoft Corporation’s strong cloud sales and spending plans. Microsoft is CRWV’s largest revenue-generating client, accounting for 62% of its total revenues last year.
Microsoft Corporation’s announcement of increased capital expenditures for the new fiscal year bodes well for CRWV, as it could lead to more contracts with the company. Additionally, Meta Platforms Inc. raised its 2025 capital spending forecast, further boosting CRWV’s prospects.
CRWV ranked 7th among top performers on Thursday. While the stock shows promise, investing in AI stocks may offer higher returns in a shorter time frame. Consider exploring other AI stocks for potential opportunities.