Coreweave stock pops
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CoreWeave acquires Core Scientific for strategic AI alignment, $10bn lease savings, but high leverage risks remain. See why I rate CRWV stock a Buy now.
The stock closed up 6.2% on the news. CoreWeave has been seeing scorching-hot growth since it pivoted its business model to AI infrastructure, providing computing capacity to companies like Microsoft, Nvidia, and OpenAI, and it needs new data centers to fuel that growth.
CoreWeave Inc. is expanding a data center that is projected to double the electricity needs of a city near Dallas, another example of the strains that artificial intelligence workloads are placing on the US power supply.
CoreWeave announces plans to invest $6 billion in building AI data center in Pennsylvania, boosting innovation and creating jobs.