Rittenhouse Research, a new firm covering fintech, AI, and crypto, is giving GLXY a strong buy rating because of its BTC mining to AI transition
Galaxy shares surged 8% and are now 60% higher than their April lows.
AI tokens, including NEAR, ICP, TAO and RENDER rose on Tuesday after OpenAI announced the closing of its record-breaking private funding round the day prior.
Shares of the company debuted on Nasdaq on Friday under the ticker CRWV.
AI powerhouse Nvidia aims to anchor a $250 million order, Bloomberg reported.
The company's target was lowered following worsened volatility and overall decline in the stock market, the report said.
A separate report said the AI-related firm is also cutting the size of its IPO to just $1.5 billion.
Whatever is good for CoreWeave is probably good for Core Scientific, but the IPO might not be the most important recent development.
AI cloud provider faces setback as major client pulls back.
The deal is valued at $1.7 billion, The Information reported.
The company is expected to raise $4 billion at a $35 billion valuation.
The AI firm is targeting a valuation of over $35 billion, according to the report.
This week’s Crypto Biz also explores Tesla’s Bitcoin holds, Avalanche’s Visa card, Core Scientific’s billionaire deal with CoreWeave and Chainlink’s pilot for corporate databases.
In a significant move reflecting its confidence in future growth, Core Scientific, one of North America’s leading operators of high-powered digital infrastructure for Bitcoin mining and hosting services, has rejected a non-binding acquisition proposal from CoreWeave. Related Reading: Crypto Chaos: 70% Of Dead Korean Exchanges Leave Investors High And Dry Core Scientific Rejects ‘Undervaluation’ The […]