CoreWeave Stock (CRWV) Calms After Massive AI Rally: What's Going On?

Shares of artificial intelligence infrastructure provider CoreWeave Inc CRWV saw a pullback Thursday morning. The dip represents a consolidation period for the stock, which has been on a meteoric rise, gaining over 151% in the past month alone amid a frenzy of AI-related investor excitement.

What To Know: The stock's recent momentum was bolstered by news from Wednesday's extended session, where reports surfaced that CoreWeave is set to provide crucial computing capacity for a new deal between Alphabet's Google and OpenAI. This development adds to a string of positive catalysts that have propelled the company since its March IPO.

Investors have been energized by CoreWeave's explosive growth, highlighted by a reported 420% year-over-year revenue increase in its first quarter and a massive $25.9 billion revenue backlog.

The company's close partnership with GPU maker Nvidia Corp and its strategic agreements with AI pioneers have solidified its position as a key player in the high-performance computing space.

Price Action: Data from Benzinga Pro shows Thursday's trading for CoreWeave has been volatile, with a daily range between $142.50 and $154.80.

Read Also: Planet Labs Stock Is Trending Thursday: What’s Going On?

How To Buy CRWV Stock

By now you're likely curious about how to participate in the market for CoreWeave – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of CoreWeave, which is trading at $149.76 as of publishing time, $100 would buy you 0.67 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, CRWV has a 52-week high of $166.60 and a 52-week low of $33.52.

Image: Shutterstock