The Top 10 Performing Stocks on Wednesday

1. CoreWeave Inc. (NASDAQ:CRWV)

CoreWeave Inc. surged by 16.72 percent on Wednesday to end at $61.36 apiece as investors continued to gobble up shares in the company on investor optimism that OpenAI’s newly secured $40 billion funding from a bank would spill over into the company.

It can be learned that CRWV reached an $11.9-billion deal with OpenAI in March. According to analysts, the deal could reduce CRWV’s 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.

CRWV is a newly listed company on the stock exchange. It listed 37.5 million shares at $40 apiece after initially targeting a sale of 49 million shares at between $47 and $55 apiece.

CRWV was one of the most anticipated initial public offerings this year, having been backed by Nvidia Corp.

While we acknowledge the potential of CRWV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as CRWV but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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