Tech stocks surged in May, with CoreWeave (+191.80%), Credo Technology (+49.03%), and Cloudflare (+38.91%) leading the way, backed by strong momentum and bullish investors.
CoreWeave Inc (NASDAQ:CRWV) and Applied Digital Corp (NASDAQ:APLD) and trending on Wednesday and seeing increased investor attention on social platforms. Here's a look at what's going on.
U.S. stock markets ended the day in the green, with the Nasdaq climbing more than 150 points, up 0.8% to 19,398.86. The S&P 500 advanced 0.58% to finish at 5,970.37, while the Dow Jones Industrial Average added 0.5%, closing at 42,519.64.
CoreWeave Inc. (NASDAQ: CRWV) shares are trading higher Tuesday, extending gains after the company entered into a major long-term infrastructure agreement with Applied Digital Corp (NASDAQ:APLD).
CoreWeave stock popped to a new all-time high on Tuesday. Nvidia-backed CoreWeave on Monday signed a long-term data center leasing deal with Applied Digital.
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Applied Digital Corp (NASDAQ:APLD) shares are trading higher again on Tuesday on what appears to be continued momentum following the company's deal with CoreWeave Inc (NASDAQ:CRWV). Multiple analysts lifted price targets on the stock following the announcement.
The agreements, each spanning roughly 15 years, will enable Applied Digital to deliver 250 megawatts of critical IT power to support CoreWeave’s AI and HPC systems at its data center complex in Ellendale, North Dakota.
Applied Digital Corp (NASDAQ:APLD) shares are trading higher Monday after the company announced long-term lease agreements with CoreWeave Inc (NASDAQ:CRWV).
