CoreWeave's CEO Just Gave Investors Great News
Business continues to be booming for CoreWeave, as demand isn't slowing.
Overview
This year has been a volatile one for artificial intelligence (AI) company CoreWeave (NASDAQ:CRWV). Its success largely hinges on demand for all things AI-related, as the company makes money by providing customers access to Nvidia's high-end chips.
Over the past 12 months, however, the stock has declined by 24%, and it's currently trading around $84 -- a far cry from its 52-week high of more than $153. Investors have been growing more concerned about AI stocks as a whole, especially ones like CoreWeave that continue to struggle with profitability.
Details
But CoreWeave's CEO recently gave investors some good news that could boost the stock heading into the latter part of the year: there continues to be sky-high demand.
Source
Originally published at www.fool.com.