CoreWeave rebounds after Nvidia chief dismisses financing concerns
CoreWeave shares recovered after Nvidia chief Jensen Huang played down concerns about the data-centre company’s financing. The Nasdaq also edged higher, though Nvidia shares fell.
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Shares in AI-related companies rebounded on Wall Street on Thursday after Nvidia chief executive Jensen Huang dismissed concerns about financing at data-centre operator CoreWeave, easing some of the pressure on technology stocks.
CoreWeave, a major customer for Nvidia’s AI chips, had fallen 15.5% on Wednesday amid concerns about its debt. The drop added to wider questions over whether heavy investment in artificial intelligence can justify the high valuations of many technology companies, according to Nieuws.nl, which carried the report from ANP. [1]
CoreWeave shares initially fell further on Thursday, but closed nearly 6% higher after Huang’s comments. He said he did not think Nvidia would need to rescue the company. The Nasdaq Composite ended the session up 0.1% at 26,713.03 points, while Nvidia shares slipped by just under 2%. [1]
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