CoreWeave announces an investment of over $2 billion this year to meet the demand for artificial intelligence.

NVIDIA-supported artificial intelligence startup CoreWeave stated on Wednesday that it plans to invest $20 billion to $23 billion in AI infrastructure and data center capacity this year to meet the growing demand of clients, including Microsoft. Following the announcement of this huge spending plan, the company's stock price fell nearly 8% after hours. Previously, the stock price had surged 11% during trading hours due to the company's better-than-expected first quarter revenue.