Money is still pouring in from the race to build out artificial intelligence infrastructure, but traders are suddenly getting more selective about who the beneficiaries will be.
On one end of the spectrum are companies like CoreWeave Inc., the money-losing provider of computing services that is swimming in debt. Its shares plunged 26% last week, marking its worst weekly showing since its debut earlier this year, following on the prior week’s 22% decline. The stock had risen more than 400% from an April low through June and remains up nearly 90% since its March initial public offering.
