Why CoreWeave Stock Is Tumbling Today

Rough day for CoreWeave (NASDAQ: CRWV) shareholders. Already drifting lower from its early May peak, as of 12:25 p.m. ET the stock's down 12.7% on Wednesday alone, reaching a new multi-week low as a result.

Blame Facebook parent Meta Platforms (NASDAQ: META), mostly, which now poses a more direct threat to CoreWeave's future growth.

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CoreWeave is an artificial intelligence data center operator, if you aren't aware, offering cloud-based access to AI infrastructure to companies that need it but don't want to build such facilities for themselves. OpenAI, Cloudflare, and Perplexity are just some of its customers contributing to Q1's revenue of nearly $2.1 billion, up 111% year over year. Analysts were looking for similar growth this year and through next year.

Now that projected triple-digit growth is threatened. On Wednesday, Bloomberg reported Meta is establishing a new business to sell access to its artificial i

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/why-coreweave-stock-tumbling-today-164650428.html)