CoreWeave, Inc. (NASDAQ: CRWV), an artificial intelligence cloud company, saw its shares soar 10.37% in intraday trading on Wednesday, building on the momentum from Tuesday's impressive 42% gain. This continued rally highlights the growing investor interest in AI-related stocks and the company's strong market position in the rapidly expanding AI cloud sector.

The stock has experienced significant volatility since its initial public offering (IPO) last Friday. After a flat debut and a 7.3% decline on Monday, CoreWeave's shares rebounded strongly on Tuesday, closing up 42%. Wednesday's surge further adds to the company's market value, which had already increased by approximately $7 billion on Tuesday, bringing its total market capitalization to around $24.4 billion.

Investors appear to be drawn to CoreWeave's position in the booming AI cloud sector and its close ties to industry leader Nvidia. The company provides access to data centers and high-powered Nvidia chips, which are in high demand for AI applications. Notably, Nvidia holds about a 6% pre-IPO stake in CoreWeave and purchased $250 million worth of shares during the offering. This connection is seen by some investors as a source of support for CoreWeave's stock and a testament to the company's potential in the AI market. As the AI sector continues to attract attention, CoreWeave's focus on providing critical infrastructure for AI applications positions it well to capitalize on the increasing demand for AI services and technologies.