After posting its quarterly earnings report, Snowflake (SNOW) jumped from $180 to over $200. Revenue in the first quarter jumped by 25.5% Y/Y to $1.04 billion.
Snowflake counted on 754 Forbes Global 2000 customers for its strong performance.
Customers are adapting to Cortex. They want to invest in data systems that will leverage artificial intelligence tools.
CoreWeave (CRWV) doubled its stock price in only a month. To take advantage of the strong demand for its shares, the firm increased its senior notes private offering. It increased from $1.5 billion to $2.0 billion. The backlog increased after the company concentrated on its infrastructure investments. IT may build, scale, and deliver compute more quickly to its client contracts.
Expect CoreWeave’s focus on sales to lead to an increase in enterprise clients. Over time, it will have outsized clients that push its profit margins higher.
In the cryptocurrency segment, watch Bitcoin (BTC-USD). The price surged to an all-time high of $111,960. On Pizza Day (May 22), BTC’s rise lifted Ethereum (ETH-USD), XRP (XRP-USD), and Cardano (ADA-USD). Demand for BTC increases whenever the U.S. dollar weakens. Similarly, gold (GLD) is a popular holding to hedge against a weak USD. So long as uncertainties in American trade policy linger, BTC’s outperformance will continue.
