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Even as the Nasdaq slid into correction territory, shares of prominent software companies like Salesforce, CrowdStrike and Figma finished the session higher.

NBIS rides on AI demand surge with 830% revenue growth and major NVIDIA, Meta deals, but heavy spending and ongoing losses raise stakes for investors.

CRWV wins Zonos deal to power AI-driven cross-border commerce, expanding enterprise SaaS reach and building recurring revenue from multi-year AI cloud deals.

CoreWeave remains a strong buy due to exceptional demand, a massive backlog, and a deeply discounted valuation. Q4 revenue grew 110% YoY, but a 342% surge in backlog to $66.8 billion signals continued supply-constrained growth. CapEx is justified by the enormous backlog, though expense control and a high debt-to-equity ratio (13.8) are key risks.

The companies are solidifying their positions as leaders in the AI infrastructure market, even as Big Tech companies build their own data centers.

"Demand is not theoretical anymore" in AI, says Lisa Martin, pointing to accelerating compute demand offering a lift for the tech sector. She believes there's plenty of winners in the space, including many that were beaten down like CoreWeave (CRWV), Microsoft (MSFT), and Oracle (ORCL).

CoreWeave soared after its IPO last year, but in recent times, it's lost momentum. Investors have worried about the company's debt levels.