OpenAI’s $40 Billion Funding Boosts CoreWeave Shares and AI Tokens
CoreWeave (CRWV) shares increased by over 38% on their third day of trading after raising nearly $1.5 billion from its IPO. This followed OpenAI's announcement of a record-breaking $40 billion funding round.
- CoreWeave went public on the Nasdaq, initially trading below its IPO price at $39, ending the first day flat at $40, and dropping 10% on Monday.
- The IPO occurred amid market anxiety, impacting investor appetite.
- OpenAI's funding news shifted sentiment towards AI stocks, suggesting sustained interest in AI firms.
- AI-related tokens such as Near Protocol, Internet Computer, Bittensor, and Render saw increases of over 3%, with RENDER up 7.4%.
- The CoinDesk20 Index rose by 3% on Tuesday.
- Shares of Core Scientific (CORZ), associated with CoreWeave, rose more than 9% on Tuesday.