CoreWeave (CRWV +6.55%) didn't make any major announcements this week. The artificial intelligence (AI) cloud services company didn't file any documents related to its business either.
Investors may wonder, then, why shares have skyrocketed about 25% this week, according to data provided by S&P Global Market Intelligence. That move brings its year-to-date rise to an astonishing 40%.
Image source: Getty Images.
Buying the dip
Last week, Jensen Huang, CEO of AI leader Nvidia, announced that the company's latest generation Rubin AI platform is now in full production. That's good news for CoreWeave. Nvidia has a nearly 5% stake in CoreWeave, owning 24.3 million shares as of Sept. 30, 2025.
CoreWeave followed Huang's announcement with a press release saying it was now among the first cloud providers to deploy Nvidia's Rubin. The Rubin platform can provide CoreWeave customers with a more cost-efficient way to develop, train, and perform inference with AI models.
NASDAQ: CRWV
Key Data Points
CoreWeave co-founder and CEO Michael Intrator provided this statement:
The Nvidia Rubin platform represents an important advancement as AI evolves toward more sophisticated reasoning and agentic use cases. Enterprises come to CoreWeave for real choice and the ability to run complex workloads reliably at production scale.
As investors feel more secure in the AI infrastructure capital spending boom, they are also seeking positions in cloud service providers like CoreWeave. Plus, even with the recent surge, CoreWeave shares are still 30% below the August highs. That helps explain the stock's massive move up this week.
