CoreWeave's 168% revenue growth and raised full-year guidance lifted AI infrastructure stocks and Nasdaq 100 futures, while bitcoin and gold remained flat amid expectations of a December rate hike.
CoreWeave reported 168% year-over-year quarterly revenue growth and raised its full-year revenue forecast to $13 billion-$13.3 billion, sending shares up 10% in Wednesday premarket trading. The wider net loss of $709 million ($1.27 per share) on higher interest costs is the counterweight, but the raised guidance and revenue beat dominate the reaction.
Nasdaq 100 futures climbed more than 1.5% as CoreWeave's 168% revenue growth and raised forecast revived the battered AI trade. Countering this, Tuesday's hotter-than-expected CPI (0.4% headline, 0.3% core) points to higher rates, with traders pricing roughly 86% odds of a quarter-point hike on Dec. 9.
CoreWeave's strong results offered relief to the AI infrastructure trade, and IREN gained 6% alongside peers. The move is indirect — driven by CoreWeave's 168% revenue growth and raised forecast — so the durability depends on the broader AI trade regaining momentum.
Galaxy Digital rose 5% as CoreWeave's 168% revenue growth and raised full-year forecast revived the AI infrastructure trade. The gain is peer-driven rather than company-specific, which limits conviction about follow-through.
Cipher advanced 7% as CoreWeave's 168% revenue growth and raised forecast spread a rally across AI infrastructure names. The move is peer-driven, and bitcoin's stagnation near $74,000 offers no additional support.
The Dollar Index stayed above 102 after October CPI came in hotter than expected at 0.4% (core 0.3%), reinforcing expectations of higher rates. Traders price roughly an 86% probability of a quarter-point FOMC increase on Dec. 9 and a 14% chance of a half-point move, supporting the dollar.
Bitcoin was little changed around $74,000 over 24 hours even as AI stocks and Nasdaq futures rallied, showing it is breaking with the equity rebound. It lagged the stock rebound ahead of the inflation report and ETF outflows mounted, per the article's newsletter headlines — a mild negative backdrop, but no sharp move.
Gold held near $4,000 an ounce and was little changed over 24 hours. Hotter-than-expected U.S. inflation reinforces higher-rate expectations, which typically weighs on non-yielding gold, but the dollar strength and rate-hike odds roughly balance any immediate move.
CoreWeave shares climbed 10% in premarket trading after reporting 168% year-over-year revenue growth and raising its full-year forecast to $13 billion-$13.3 billion. The positive results sparked a broader rally in AI infrastructure stocks, with Nasdaq 100 futures rising more than 1.5% despite persistent inflation concerns.
The company reported 168% quarterly revenue growth and raised its full-year revenue forecast to $13 billion-$13.3 billion, lifting shares about 10% in premarket trading.
CoreWeave's 168% quarterly revenue growth and raised full-year forecast, which pushed Nasdaq 100 futures up more than 1.5%.
CoreWeave's 168% revenue growth and raised forecast relieved the broader AI infrastructure trade, and IREN gained 6% with peers.
It gained 5% as CoreWeave's strong Q3 results lifted AI infrastructure stocks broadly.
It advanced 7% alongside other AI infrastructure stocks after CoreWeave's strong earnings.
Stronger-than-expected October inflation (0.4% headline, 0.3% core) reinforced expectations of a Federal Reserve rate increase on Dec. 9, keeping the Dollar Index above 102.
No. Bitcoin held around $74,000 and was little changed, lagging the stock rebound.