On Tuesday, AI-related assets experienced a notable surge after OpenAI announced the successful completion of a record $40 billion funding round, driving positive momentum in the market. Tokens like Near Protocol (NEAR), Internet Computer (ICP), Bittensor (TAO), and Render (RENDER) rose by over 3%, with RENDER leading the pack with a 7.4% increase. The broader cryptocurrency market, tracked by the CoinDesk20 Index, also saw a 3% rise.

CoreWeave (CRWV), which debuted on the Nasdaq with its IPO, saw its stock soar by more than 38% on its third day of trading. The company raised nearly $1.5 billion from its IPO, but its stock had initially faced difficulties, dropping below its IPO price to $39 and experiencing another 10% decline on its first full day of trading. The market had been struggling with global uncertainty, reducing investor risk appetite. However, OpenAI’s announcement of its $40 billion funding round, which valued the company at $300 billion, helped restore confidence in AI companies, demonstrating continued strong interest in the sector despite broader market volatility.

The news had a ripple effect on the broader AI ecosystem, positively impacting Core Scientific (CORZ), which has a significant partnership with CoreWeave. Core Scientific’s shares gained more than 9% on Tuesday, further reflecting the renewed optimism around AI-driven businesses and investments.