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AI infrastructure firm CoreWeave has seen its stock value plummet over 60% in six weeks, erasing $33 billion and fueling Wall Street fears of an AI bubble.
Key AI infrastructure firms like Cisco, CoreWeave, and Nebius are set to report earnings this week, providing a crucial test of the AI spending boom's durability.
Core Scientific shareholders have rejected a $9 billion takeover bid from AI provider CoreWeave, betting the company's future value is higher as a standalone entity.
Insiders at AI computing firm CoreWeave sold over $1 billion in stock during the third quarter after a post-IPO lockup period expired, data shows.
Nvidia is deploying its $57 billion cash reserve in a strategy to fund AI partners like OpenAI and CoreWeave, who then buy Nvidia's hardware, securing future demand.
OpenAI has expanded its partnership with cloud provider CoreWeave by $6.5 billion, bringing the total contract value to $22.4 billion for AI infrastructure.
CoreWeave, a key AI infrastructure provider, has built a $50 billion business on a high-risk strategy, using $29 billion in debt backed by Nvidia GPUs.
