QUICK SPARK: CoreWeave, 16 Other AI Stocks Are Up More Than 10% on Wednesday
Piero Cingari 44 minutes ago
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CoreWeave Inc. (NASDAQ: CRWV) jumped 23% after a third-quarter beat, lifting 16 other AI stocks above 10% and pushing the SOXL ETF up 19% Wednesday.
CoreWeave Inc. (NASDAQ:CRWV) is up 23.2% at $60.04 in late-morning trading, and 16 other AI-linked stocks are up more than 10%, according to Benzinga Pro data.
It’s a sharp reversal from Oct. 14, when the stock plunged 15.5% due to its roughly $50 billion debt load. The cost of insuring its debt against default implied a nearly 63% chance that the Livingston, New Jersey-based company would default within five years.
But in CoreWeave’s third-quarter report, revenue came in at $3.66 billion. That’s up 168% from a year earlier and above the top of the company’s own $3.45 billion to $3.60 billion forecast.
CoreWeave also raised its 2026 revenue guidance to $13 billion to $13.3 billion, up from $12.4 billion to $13.2 billion. In addition, CEO Michael Intrator said he canceled his personal stock-sale plan.
CoreWeave rents out Nvidia GPUs to AI developers, so its results give a live read on demand for AI computing power. As a result, the rally has spread across the whole supply chain: memory and storage, optical networking, servers and power.
| Company | Price | Change |
|---|---|---|
| CoreWeave | $60.04 | +23.20% |
| Nebius Group N.V. (NASDAQ:NBIS) | $155.88 | +16.32% |
| Bloom Energy Corp. (NYSE:BE) | $213.99 | +15.40% |
| SanDisk Corp. (NASDAQ:SNDK) | $991.90 | +15.33% |
| Lumentum Holdings Inc. (NASDAQ:LITE) | $664.49 | +13.47% |
| Dell Technologies Inc. (NYSE:DELL) | $376.33 | +12.54% |
| Micron Technology Inc. (NASDAQ:MU) | $815.18 | +12.42% |
| Semtech Corp. (NASDAQ:SMTC) | $126.83 | +11.75% |
| Arm Holdings plc (NASDAQ:ARM) | $202.32 | +11.47% |
| Coherent Corp. (NYSE:COHR) | $239.28 | +11.46% |
| Credo Technology Group Holding Ltd. (NASDAQ:CRDO) | $144.36 | +11.21% |
| Seagate Technology Holdings plc (NASDAQ:STX) | $557.78 | +11.19% |
| MACOM Technology Solutions Holdings Inc. (NASDAQ:MTSI) | $251.32 | +10.96% |
| SK Hynix Inc. (NASDAQ:SKHY) | $143.83 | +10.92% |
| Marvell Technology Inc. (NASDAQ:MRVL) | $171.13 | +10.84% |
| Super Micro Computer Inc. (NASDAQ:SMCI) | $30.63 | +10.20% |
| Onto Innovation Inc. (NYSE:ONTO) | $217.65 | +10.19% |
The triple-leveraged Direxion Daily Semiconductor Bull 3X Shares (NYSE:SOXL) jumped 19.2%.
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