Good evening, and welcome to Markets Desk.
CoreWeave is the story in tech infrastructure right now, and not in a good way. The AI cloud computing company has shed fifty-two percent from its fifty-two week high, closing Thursday near seventy-three dollars. Investor concern centers on customer concentration risk and the heavy capital spending required to stay competitive in GPU-intensive workloads. The post-IPO honeymoon is clearly over.
Shifting to AI competition, Moonshot AI's Kimi K three model is the latest Chinese entrant rattling confidence in Silicon Valley's dominance. The company's founder, Yang Zhilin, trained at Carnegie Mellon and logged time at Meta and Google before returning to China to build what is now one of the most closely watched frontier labs outside the United States. The timing is pointed.
And then there is the Truth Social story, which sits at the uncomfortable intersection of markets and political power. Trump Media is reportedly exploring a paid tier that would give Wall Street traders millisecond-early access to posts from top accounts, potentially including the president himself. The stock is down roughly seventy percent since election day, and critics are calling the monetization scheme precisely what it looks like.
That's the tape. Markets Desk, signing off the floor.
