CoreWeave Bounces Back with a 20% Surge

In a dramatic turnaround, shares of the AI cloud company CoreWeave leaped over 20% this Tuesday, marking a significant recovery from its initial post-IPO struggles. This surge comes just three days into trading, following a 10% drop on Monday that saw the stock dip below its $40 initial public offering price.

Behind the Numbers

CoreWeave, a key player in renting access to Nvidia's GPUs, recently launched the most substantial venture-backed US tech IPO since 2021. With Microsoft as its premier client, the company reported a staggering 737% revenue increase to $1.92 billion last year, despite a net loss of $863 million.

At 10:11 am ET, the company's shares were trading at $44.38, up by an impressive 20.12%.