10 Firms Lead Rally on Impressive Q1 Earnings, Optimistic Outlooks

7. CoreWeave, Inc. (NASDAQ:CRWV)

CoreWeave Inc. saw its stock prices increase by 7.31 percent on Thursday to finish at $44.32 apiece as investors snapped up shares following Microsoft Corporation’s (NASDAQ:MSFT) better-than-expected cloud sales and reiterated spending plans.

Microsoft Corporation (NASDAQ:MSFT) is CoreWeave, Inc.’s (NASDAQ:CRWV) largest revenue-generating client, which, last year, accounted for 62 percent of its total revenues.

In its latest earnings release, Microsoft Corporation (NASDAQ:MSFT) reiterated plans to raise capital expenditures in the new fiscal year, albeit at a slower rate. The announcement spelled good news for CoreWeave, Inc. (NASDAQ:CRWV) on expectations that any budget increase could spill over into its contracts with MSFT.

Additionally, CRWV’s other client, Meta Platforms Inc. (NASDAQ:META), also raised its 2025 capital spending forecast to between $64 billion and $72 billion.