Nvidia-backed CoreWeave rides AI wave in first results as public company

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Nvidia-backed CoreWeave beat Wall Street estimate for quarterly revenue on Wednesday, in its first set of results as a public company, signaling strength in demand for the AI cloud computing startup’s services.

Shares of the New Jersey-based company jumped 11% in extended trading. Through last close, they have risen 68% since their muted Nasdaq debut in March.

Businesses looking to get ahead in the race to develop the most sophisticated generative artificial intelligence technology have boosted demand for infrastructure such as data centers and…



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Nvidia-backed CoreWeave rides AI wave in first results as public company


Nvidia-backed CoreWeave beat Wall Street estimate for quarterly revenue on Wednesday, in its first set of results as a public company, signaling strength in demand for the AI cloud computing startup’s services.

Shares of the New Jersey-based company jumped 11% in extended trading. Through last close, they have risen 68% since their muted Nasdaq debut in March.

Businesses looking to get ahead in the race to develop the most sophisticated generative artificial intelligence technology have boosted demand for infrastructure such as data centers and…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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