AI
Nvidia-backed CoreWeave rides AI wave in first results as public company
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Nvidia-backed CoreWeave beat Wall Street estimate for quarterly revenue on Wednesday, in its first set of results as a public company, signaling strength in demand for the AI cloud computing startup’s services.
Shares of the New Jersey-based company jumped 11% in extended trading. Through last close, they have risen 68% since their muted Nasdaq debut in March.
Businesses looking to get ahead in the race to develop the most sophisticated generative artificial intelligence technology have boosted demand for infrastructure such as data centers and…
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