CoreWeave, Inc. (NASDAQ: CRWV), an artificial intelligence cloud company, saw its shares soar 5.08% in pre-market 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.

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% at $52.57. This turnaround added approximately $7 billion in market value, bringing the company's total market capitalization to around $24.4 billion.

CoreWeave's close ties to Nvidia (NASDAQ: NVDA), a leading AI chip manufacturer, appear to be a key factor driving investor optimism. Nvidia serves as CoreWeave's main supplier and second-largest customer, and also holds a stake in the company. Some investors view this relationship as a source of support for CoreWeave's stock, given Nvidia's dominant position in the AI chip market.

As the AI sector continues to attract attention, CoreWeave's focus on providing access to high-powered data centers and Nvidia chips for AI applications positions it well in the rapidly growing market. The company's recent performance suggests that investors are betting on its potential to capitalize on the increasing demand for AI infrastructure and services.