Why CoreWeave Stock Is Skyrocketing Today

Shares of CoreWeave (NASDAQ: CRWV) are flying higher on Thursday, up 12.4% as of 2:31 p.m. ET. The jump comes as the S&P 500 and Nasdaq Composite were unchanged.The artificial intelligence (AI) cloud computing company is seeing its stock move higher after a round of earnings releases from major tech companies show AI capital expenditures are not slowing down anytime soon.Meta Platforms and Microsoft both recently released their second-quarter earnings reports, showing that their enormous AI-focused capital expenditures (capex) are not slowing down. In fact, they are accelerating. Meta's capex in Q2 nearly doubled year over year while Microsoft's grew by 22% year over year, reaching $17.1 billion. Incredibly, Microsoft told investors it plans to spend $30 billion in Q3, 60% more than analysts expected.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool