CRWV +13 to 171, wish I had loaded up at $38 after the March IPO or at $80 in May when NVDA announced an increased position - avoiding extremely popular stocks just because they're not yet profitable or very high PE has proven to be a big mistake.
briefing 5/16/25 -
CoreWeave skyrocketing to post-IPO highs after NVIDIA (NVDA) revealed in a filing that it now holds a 7% stake in the company, up from 5%, representing a strong endorsement and significantly boosting investor confidence in CoreWeave (80.42 +14.65) :
For some background, CoreWeave (CRWV) is a significant customer of NVIDIA's (NVDA). As of December 31, 2024, CRWV operated 32 data centers running on more than 250,000 GPUs. Those GPUs are primarily purchased from NVDA.
On Wednesday night, CRWV also reported earnings for the first time since going public on March 28, 2025. Although CRWV reported a GAAP net loss of ($1.49)/share, the results looked very strong overall as revenue soared by 420% yr/yr to $981.6 mln, crushing analysts' expectations.
The robust growth was aided by an expansion of $4.0 bln to an existing cloud computing deal with OpenAI, underscoring CRWV's ability to serve top-tier AI organizations. The OpenAI contract, combined with CRWV's existing relationships with clients like Microsoft (62% of 2024 revenue), drove substantial order growth.
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