Cloud provider CoreWeave’s stock surged 19% Wednesday, as it joined a parade of firms providing critical AI infrastructure for hyperscalers reporting record demand.
Taiwanese electronics maker Foxconn also beat forecasts, with cloud and networking services accounting for more than half of its revenue for the first time. The race to develop ever more sophisticated AI models shows no sign of slowing, prompting Google co-founder Sergey Brin to implore employees at a town hall to “move faster,” Reuters reported Wednesday.
Brin, who’s become a more regular presence at the company, has been telling staff “they need to catch up to the frontier.”
