CoreWeave (CRWV) Surges 23.7% W/W on Strong Investor Optimism

CoreWeave, Inc. (NASDAQ:CRWV) is one of the Double-Digit Winners: 10 Stocks Crushing The Market.

CoreWeave grew its share prices by 24.7 percent week-on-week, finishing at $183.58 on Friday versus the $147.19 close on June 13, as investors continued to load up positions amid rosy growth prospects.

On Friday alone, CoreWeave, Inc. (NASDAQ:CRWV) hit a new all-time high of $187, before paring gains to close the day slightly lower, as investors flocked to stocks riding the Artificial Intelligence boom amid the ongoing geopolitical tensions.

In recent news, CoreWeave, Inc. (NASDAQ:CRWV)announced a record-breaking performance from using 2,496 of Nvidia Corp.’s latest Grace Blackwell Chips on its AI-optimized cloud platform, making its submission the largest-ever benchmarked under MLPerf.

In March this year, CoreWeave, Inc. (NASDAQ:CRWV) bagged an $11.9-billion deal with OpenAI, welcoming the latter as a new investor with the sale of $350 million CRWV stocks.

CoreWeave (CRWV) Surges 23.7% W/W on Strong Investor Optimism

A medical professional demonstrating a drug delivery process with the help of animated graphics, highlighting the ADCC activity of the company.

Last month, CoreWeave, Inc. (NASDAQ:CRWV) also bagged multi-billion-dollar worth of contracts, including the $4-billion upsized deal with OpenAI, as well as with Aston Martin Aramco, where it will serve as the latter’s official AI cloud computing partner, providing AI-accelerated engineering opportunities to support car design efficiency.

While we acknowledge the potential of CRWV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.