As CoreWeave Signs a Deal with Perplexity, Should You Buy, Sell, or Hold CRWV Stock?

CoreWeave (CRWV) is among the leading cloud platform providers that have seen some rather impressive moves this year. Surging more than 100% since its initial public offering, CRWV stock remains one of the best-performing companies in the market, though this is also a stock that’s down more than 50% from its peak last year. Thus, there are increasingly divergent views on how this stock may perform moving forward and where CoreWeave will trend over the medium term.

Recent reports indicate that this company is seeing continued upside momentum, driven by a recent deal with Perplexity. Let’s dive into what this deal entails and why investors are increasingly viewing CoreWeave as one of the best ways to play the AI revolution in the market right now.

The CoreWeave-Perplexity Deal

On Wednesday, CoreWeave announced AI search company Perplexity has signed a deal to utilize CoreWeave’s impressive data centers and cloud computing technology to enhance and build new services. Exactly what these services are and what they’ll mean for consumers remains to be seen. However, the reality is that as Perplexity and other companies diversify their cloud providers, CoreWeave could become a much more central player to the key LLM providers CoreWeave and its peers are courting right now. 

This announcement also included a statement that Perplexity Enterprise Max would be provided to help employees search…