US AI Cloud Stocks Lose 3 Trillion Won in Market Value Amid Class Action Lawsuit Concerns

CoreWeave Inc. (NASDAQ: CRWV) shares plunged 8.48% on February 4, closing at $82.40 with trading volume of about 18.4 million shares. The company’s market capitalization fell to roughly $31.8 billion (about ₩43 trillion), erasing some $2.5 billion (mid-₩3 trillion) in a single day.

Since mid-January, CoreWeave has been hit with multiple securities class-action lawsuits alleging it overstated its ability to meet demand and downplayed risks tied to delays at its Denton, Texas, data center. On February 3, additional notices were issued to recruit lead plaintiffs representing investors’ losses. Despite these legal challenges, J.P. Morgan maintained a “Neutral” rating on January 16 and set a $110 price target, noting that demand for AI compute remains strong.

CoreWeave is an AI cloud provider operating high-performance GPU-based data centers. In 2025, it announced a supply agreement with OpenAI worth up to $11.9 billion (around ₩16 trillion) for AI infrastructure and revealed plans to acquire digital-infrastructure firm Core Scientific. The recent share slump and surge in class-action suits reflect market doubts about CoreWeave’s capacity to build the infrastructure backing its long-term contracts and the reliability of its disclosures.