Investors are betting big on AI’s future: OpenAI just secured a staggering $40 billion in funding, and the markets are reacting accordingly. The massive investment, announced Monday, triggered a surge in AI-related stocks and digital assets as traders signaled renewed confidence in the sector.
CoreWeave, the AI infrastructure startup, saw its shares jump over 38% on Tuesday, just days after its Nasdaq debut on Friday. Despite an initial stumble below its $40 IPO price, CoreWeave’s stock rebounded sharply, climbing above its offering price amidst high trading volumes that briefly destabilized Nasdaq’s system status. The company recently raised almost $1.5 billion in its IPO.
The positive vibes extended beyond stocks to the crypto market, where AI tokens experienced a notable upswing. Near Protocol (NEAR), Internet Computer (ICP), Bittensor (TAO), and Render (RENDER) all climbed over 3%, with RENDER leading the pack with a 7.4% increase. The broader CoinDesk20 Index also mirrored this trend, rising by 3%.
Even bitcoin mining companies felt the tailwinds. Core Scientific (CORZ), a major player in cryptocurrency mining, witnessed its shares increase by more than 9% on Tuesday. Bergen Capital, now the majority shareholder, is pushing Core Scientific to expand its crypto mining operations. The company currently accounts for roughly 25% of the global hashrate, solidifying its position as the largest publicly traded blockchain infrastructure provider.
Driving this market enthusiasm is the increasing adoption of AI across industries. As companies integrate AI tools to streamline processes and manage complex data, investor appetite for AI-related assets appears robust, suggesting this rally in stocks and tokens could have further to run.