CoreWeave, Snowflake, and Oracle shares rise on risk-on sentiment after planned Iran strikes are canceled, lifting AI infrastructure stocks.
CoreWeave, Snowflake, and Oracle shares climbed Monday as easing geopolitical tensions sparked a broad risk-on rally. CoreWeave led gains, rising 11% to $79.60, while Snowflake and Oracle advanced 6% and 5% to $311 and $136, respectively.
The rebound follows weeks of pressure on AI-linked infrastructure stocks, with the WisdomTree Cloud Computing ETF (WCLD) up 2% to $36. Nebius Group also rose 8% to $206, reflecting sector-wide strength rather than isolated gains. The NASDAQ 100 mirrored the move, gaining 0.7%.
BTIG raised its Snowflake price target to $340 ahead of Q2 earnings, citing strong demand and AI product traction. The rally underscores renewed investor appetite for AI cloud plays amid reduced macro uncertainty.