10 Firms Mirror Wall Street Bloodbath

3. CoreWeave Inc. (NASDAQ:CRWV)

CoreWeave Inc. extended its losing streak for a fifth consecutive day to touch a new low on Monday, losing 9.40 percent to end at $35.42 each amid the lack of fresh catalysts to spark buying appetite.

At intra-day trading, CRWV dropped to its lowest price of $33.51 apiece before slight buying pushed the company’s share price higher at the end.

In recent news, CRWV clinched a new $4.5-billion deal with Galaxy Digital, a crypto miner turned AI cloud service provider, to host its infrastructure at the latter’s Helios campus in West Texas. Under the terms, Galaxy will deliver 133 megawatts of critical IT load to host CRWV’s artificial intelligence and high-performance computing infrastructure.

As part of the conversion process, Galaxy is set to remove its crypto-mining hardware from the site.

Apart from Galaxy Digital, CRWV also bagged an $11.9-billion deal with OpenAI in March, a significant development for the company that analysts said could help reduce its reliance on Microsoft, which earlier lessened its commitment to the company for missing deadlines and materials delivery issues needed to scale its artificial intelligence models.