Shares of Coreweave jumping more than 8% yesterday. The AI cloud provider announcing new tools to help programmers develop AI agents. In an interview on Mad Money, the company's CEO brushed off concerns about those circular deals in the AI sector.>> The largest uh tech companies in the world are purchasing this infrastructure because they have demand. There's nothing circular about that. It's a fundamental uh infrastructure buildout that's taking place.And when you have such a massive scale investment in in ...

Core Insights - CoreWeave CEO Michael Intrator dismissed concerns regarding circular investments among AI giants, asserting that major tech companies are purchasing infrastructure due to high demand [1][3] - CoreWeave went public in March, raising $1.5 billion, marking the largest U.S. tech IPO since 2021, with its stock price increasing over 200% since its debut [1][2] - The company has secured significant contracts, including a $6.5 billion expansion with OpenAI, totaling $22.4 billion, a $14.2 billion deal with Meta, and a $6.3 billion order with Nvidia [2] Industry Dynamics - Concerns on Wall Street about circular investments are countered by Intrator, who emphasizes that these deals signify a substantial infrastructure buildout [3][4] - Intrator noted that partnerships are common during major infrastructure developments, reflecting a broader market trend [3]