Crypto miner turned AI provider CoreWeave adds billions in market cap

Quick Summary:

The company then rode out the AI boom and its unique relationship with Nvidia to secure a massive IPO launch. CoreWeave has landed other major investors, with Cointelegraph reporting in March that OpenAI reached an $11.9 billion deal with the company to supply AI infrastructure for the ChatGPT developer’s massive data needs. CoreWeave is operating in a much broader cloud computing industry, which is forecast to become a $2 trillion behemoth by 2030 as AI applications gain mainstream adoption, according to Goldman Sachs. Cloud computing’s total addressable market by 2030.

Shares of AI cloud computing company CoreWeave (CRWV) surged on May 16 after chip giant Nvidia revealed a large ownership stake, signaling growing corporate and institutional interest in the newly public company.

Source: Yahoo FinanceCoreWeave’s rally was sparked by regulatory filings from Nvidia showing that the company owned $900 million of CRWV stock at the end of the first quarter.

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Article Details

Author / Journalist: Cointelegraph by Sam Bourgi

Category: Crypto

Markets: United States

Topics: Coreweave’s Market Crwv Nvidia Million Shares Coreweave Company Stake Stock Cloud

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-16 @ 19:03:23 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 456 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28749501

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Main Topics: Crypto

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