Prediction: 1 AI Stock That Will Be Worth More Than CoreWeave 2 Years From Now
Snowflake doesn't need to deal with the burden of sky-high expectations anymore.
CoreWeave's stock has more than tripled since its IPO this March as it dazzled investors with its explosive growth rates. Unlike other cloud infrastructure platforms, which provide a wider range of computing and storage services, CoreWeave only uses its cloud-based graphics processing units (GPUs) to process machine learning and artificial intelligence (AI) tasks.
CoreWeave was once a crypto mining company, but it abandoned that market in 2018 and repurposed its GPUs to process AI tasks. It expanded its cloud platform by buying thousands of data center GPUs from Nvidia, and its number of data centers grew from just three locations in 2022 to 33 locations at the end of its latest quarter.
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