Crypto Miner Turns AI Guru, Causing Market Frenzy! 😂🚀

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Well, well, what do we have here? Turns out our erstwhile crypto miner, CoreWeave, has donned the AI hat and taken to the skies! Shares shot up faster than a champagne cork on New Year’s Eve on May 16, all because Nvidia, that chip mogul with more tricks up its sleeve than a magician at a Christmas party, dropped some hefty ownership news. Investors are throwing money around like confetti at a wedding — now the company’s market cap is strutting about at a fancy $38 billion. Trading volumes? More than double the usual—these folks aren’t messing around, I tell you!

Last seen trading around a cheerful $81—up a sturdy 23 percent—CoreWeave’s stock has become the belle of the ball. All thanks to Nvidia’s regulatory filings revealing their ownership of a cool $900 million worth of CRWV shares at the end of the first quarter. That’s more than double what they had in March! Looks like Nvidia’s holdings are blossoming faster than a weed in a hotbed, assuming they haven’t sold a single share, which I very much doubt.

Back in the day, Nvidia owned just 17.9 million shares at CoreWeave’s IPO — a modest start, like a young debutante at her first ball. Since then, the stock has ballooned over 100% from its humble $40 debut, galloping past the Nasdaq and all those other stodgy stocks. Talk about a meteoric rise—more like a rocket than a kite! 🚀

Now, don’t get all starry-eyed just yet. While our friends at CoreWeave were busy making bank (a 420% revenue surge, mind you), they also spent money like a sailor on leave—expenses jumped 487%, and their net loss widened by 143%. As a result, their stock took a little stumble after their first-quarter financial spill on May 14. Poor things—up one day, then down the next, like a yo-yo with a mind of its own.

CoreWeave’s Crypto Past—A Tale of Grit and Gumption

Ah, the origins of this spectacle! Starting life in 2017 as Atlantic Crypto, a fine Ethereum-mining outfit, CoreWeave had its eyes on digital gold. But alas, the bear market came prowling, and by 2018, they’d switched gears faster than a racing car—rebranding to CoreWeave and turning their GPU infrastructure into a cloud computing juggernaut. Since then, they’ve spun the wheel of fortune, riding the AI boom and Nvidia’s coattails to a glorious IPO. 💪

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2025-05-16 21:14