CoreWeave Soars 38% Amid OpenAI’s $40B Funding Boost for AI Sector

CoreWeave (CRWV) shares surged over 38% on Tuesday, marking a strong rebound in its third day of trading on the Nasdaq. The AI-focused cloud computing startup raised nearly $1.5 billion in its IPO last week, but its debut was met with market uncertainty. The stock initially dropped below its IPO price, closing flat at $40 on Friday and falling another 10% on Monday.

The sentiment shift came after OpenAI announced a massive $40 billion funding round on Monday, valuing the company at $300 billion. The news reignited investor confidence in AI-related stocks despite broader market anxiety, boosting demand for companies tied to artificial intelligence.

CoreWeave, which specializes in GPU-accelerated cloud infrastructure, benefited significantly from the renewed optimism. Investors now view AI as a resilient and high-growth sector, and CoreWeave’s performance reflects that bullish sentiment.

The ripple effect extended to the crypto market, with AI-linked tokens like Near Protocol (NEAR), Internet Computer (ICP), Bittensor (TAO), and Render (RENDER) gaining over 3%. RENDER led the pack, jumping 7.4%. The CoinDesk20 Index also climbed 3%, highlighting the broader impact of AI enthusiasm on digital assets.

Additionally, shares of Core Scientific (CORZ), a bitcoin mining and data center company with strong ties to CoreWeave, rose more than 9% on Tuesday. This correlation further underscores the growing synergy between AI infrastructure and blockchain technologies.

As the market digests OpenAI’s landmark funding and CoreWeave’s momentum, investor appetite for AI and related tech appears stronger than ever, signaling potential long-term growth across sectors driven by artificial intelligence.