CoreWeave Traders Emboldened by AI Spending Ahead of Earnings

The race to build computing capacity for artificial intelligence is reviving bullish bets on one of Wall Street’s most contentious stocks: CoreWeave Inc.

Shares of the computing-services provider rallied 35% in less than two weeks through Monday’s close, soaring after Microsoft Corp., its biggest customer, said it plans to step up investments in AI infrastructure. Microsoft’s spending alleviated concerns that the run-up in the stock was outpacing the outlook for growth — and CoreWeave shares extended the gains Tuesday by rising as much as 2.9%.