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Barchart
Barchart
Elizabeth H. Volk

1 Analyst Says the Selloff in CoreWeave Stock is Overdone. Is CRWV Stock a Buy Here?

CRWV CoreWeave Jane Street HC Wainwright Nvidia OpenAI

CoreWeave (CRWV) stock got an early boost this morning, lifted by reports that Jane Street purchased 19.99 million shares of the artificial intelligence (AI) hyperscaler, equivalent to a 5.4% stake. That makes Jane Street the fourth largest investor in CRWV, according to Wednesday’s regulatory filing. 

The nod from quant firm Jane Street is a much-needed boost for CoreWeave, which has collapsed by 37% from last week’s highs amid widespread selling in tech stocks. Recent market skepticism about artificial intelligence (AI) valuations, influenced by OpenAI CEO Sam Altman's comments about potential market bubbles and an MIT study showing limited returns on AI investments, has contributed to the selling pressure on CRWV - despite strong fundamental growth indicators. 

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