OpenAI Secures $40B in Funding, Alleviating Market Anxiety and Driving CoreWeave and AI Tokens Up

On Tuesday, the announcement of OpenAI’s record-breaking $40 billion funding round triggered a wave of optimism across AI-related assets. Tokens such as Near Protocol (NEAR), Internet Computer (ICP), Bittensor (TAO), and Render (RENDER) saw strong gains, with RENDER leading the charge with a 7.4% jump. Other AI-focused tokens experienced an increase of more than 3%, and the broader digital asset market, as indicated by the CoinDesk20 Index, also rose by 3%.

CoreWeave (CRWV) shares surged by over 38% on their third day of trading following the company’s successful IPO, which raised nearly $1.5 billion. Despite initial volatility — the stock dropped below the IPO price to $39 and then fell another 10% on Monday — the market sentiment improved after OpenAI’s announcement. The news of OpenAI securing $40 billion in funding, elevating the company’s valuation to $300 billion, reassured investors that there is still strong demand for AI companies, even in the face of global market instability.

CoreWeave’s IPO had launched amidst a backdrop of market uncertainty, which dampened investor risk appetite. However, OpenAI’s funding success has reinvigorated confidence in AI stocks. Furthermore, Core Scientific (CORZ), the Bitcoin miner and data center firm partnered with CoreWeave, saw its shares climb by over 9% on Tuesday, benefiting from the positive market sentiment surrounding AI investments.