Coreweave

Wall Street suffered its worst session in three months as tech and AI shares tumbled, driven by inflation concerns and massive infrastructure spending fears.

Wall Street indexes dropped as rising oil prices reignited inflation fears, while tech stocks like Intel and CoreWeave posted gains amid AI enthusiasm and supply updates.

Shares of AI cloud provider CoreWeave jumped yesterday (Wednesday) by approximately 19%, bringing the company's market value to nearly $59 billion. The surge followed the release of second-quarter reports, which revealed a staggering figure: the company's backlog reached $104 billion, compared to about $30 billion last year. These are signed contracts that the company has yet to deliver...

Leading Wall Street indices closed slightly lower on Tuesday as investors remain cautious ahead of July's inflation data. Despite market tension, the current earnings season continues to show strong results, driven by significant investments in artificial intelligence.

CoreWeave shares jumped 8% in after-hours trading Tuesday after the AI infrastructure provider reported revenue that beat Wall Street analyst forecasts. Quarterly revenue reached $2.58 billion, a 112% increase year-over-year, highlighting strong demand for generative AI hardware.