The Rundown Musk Calls Out Trump's Tax Bill, CoreWeave Soars on Massive AI Data Center Deal
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Jun 4, 2025 The stock market sees gains with the S&P 500 and NASDAQ on the rise. Tensions flare over a Trump administration tax bill, while Musk’s comments on trade with China add fuel to the fire. CoreWeave's shares soar by 270% thanks to a massive AI data center deal, despite high debt concerns. Meanwhile, Nintendo gears up for the Switch 2 launch, and HPE's stocks rise due to AI servers. On a lighter note, McDonald's brings back the beloved snack wrap to boost revenues!
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Market Ignores Political Drama
- The stock market keeps rallying despite political drama and uncertain trade tensions with China.
- Investors are instead focused on upcoming jobs report which could push markets to all time highs.
CoreWeave's IPO Surge Explained
- CoreWeave stock surged 270% since its March IPO due to booming AI demand, despite mixed Wall Street sentiment.
- Retail investors drive its rally while institutions are shorting the stock given its high debt and concentrated revenue sources.
CoreWeave's Data Center Expansion
- CoreWeave is expanding data centers in North Dakota leveraging their AI infrastructure business model.
- The company rents AI capacity by loading data centers with NVIDIA chips, analogous to 'Blockbuster but for GPUs.'