CoreWeave Stock Sinks as Mag 7 Move Rattles Investors The news that Meta Platforms is building a cloud business to monetize its unused AI computing power has sent shockwaves through the stock market.
CoreWeave, one of Meta's biggest customers, has seen its stock price plummet in response. CoreWeave's fortunes are closely tied to those of its largest client.
As a major player in the neocloud market, it has built its business model around providing AI computing power to companies like Meta.