AI linked stocks rebounded on Monday after taking a heavy beating last week, with lower Treasury yields and softer crude oil prices offering some relief to investors, Reuters reported. The recovery was led by semiconductor stocks and data centre names, while CoreWeave jumped after Goldman Sachs upgraded the cloud computing company.
CoreWeave rose 3.4% after losing more than a quarter of its value last week, as concerns around its $50 billion debt load weighed on the broader AI trade. Goldman Sachs upgraded the stock to “buy” from “neutral”, saying tight computing capacity and CoreWeave's performance advantage over rival neocloud firms could support higher annual recurring revenue per megawatt over the next two years.
