CoreWeave ($CRWV) stock has plunged nearly 33% since the company announced its second-quarter results. The artificial intelligence (AI)-powered

CoreWeave ( CRWV) is an AI cloud computing company that delivered multibagger gains post-IPO. Soaring AI demand and spending on computing and data centers allowed it to land significant contracts and gain steam, though the momentum has come to an end and reversed.

Wall Street had a split reaction to CoreWeave’s CRWV earnings report on Tuesday afternoon, which showed about 200% growth in quarterly revenue for the AI cloud company but also steeper losses than what analysts were expecting.