CoreWeave CEO Blames Market Irrationality as Stock Plunges 17%
Macro·2 articles across 2 outlets·↩ Updated
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
CoreWeave Inc. Chief Executive Officer Mike Intrator stated that the market is acting 'irrationally' amid a significant decline in the company's stock and bond prices. He expressed confidence in the AI cloud company's business model despite the turmoil.
The selloff in CoreWeave's shares, which fell as much as 17%, coincided with a broader downturn in AI-focused 'neocloud' stocks following a negative forecast from research firm Gartner, predicting an industry shakeout.
CoreWeaveMike Intrator
Sources
Every quote below is verbatim from the article it is attributed to.
SourceReports the news
“CoreWeave Inc. Chief Executive Officer Mike Intrator, facing a plunge in the company’s stock and bond prices, said the market is acting “irrationally” and that he remains confident in the AI cloud”
Bloomberg — CoreWeave CEO Says Market Acting ‘Irrationally,’ Stands by Model“CoreWeave plunged as shares in other AI-focused "neoclouds" also sold off after research firm Gartner predicted an industry shakeout.”
IBD — Why Gartner AI Outlook Sent CoreWeave Stock, Neoclouds Reeling“CoreWeave CEO called the market irrational as stock fell as much as 17%”
quartz — CoreWeave CEO called the market irrational as stock fell as much as 17%
SupportCorroborates it
“As a key corner of the artificial intelligence trade takes a beating on Wednesday, traders are betting it could get even worse.”
CNBC — Traders pile into 'bubble puts' on CoreWeave as neocloud stocks plunge
Earlier versions
- Oct 14, 5:10 PM — CoreWeave Stock Plummets Amid AI Industry Shakeout Predictions (2/2)