CoreWeave (CRWV) shares skyrocketed by over 38% following a rough start on the Nasdaq. The AI-cloud computing firm initially raised close to $1.5 billion during its IPO but faced market challenges, seeing its stock dip below IPO prices. However, a sentiment shift occurred after OpenAI announced a $40 billion funding round, valuing it at $300 billion, boosting confidence in AI stocks.

The news from OpenAI helped alleviate broader market concerns, allowing CoreWeave and similar AI-oriented stocks to experience a resurgence in investor interest and market performance.