CoreWeave’s strong revenue growth lifted AI infrastructure stocks and Nasdaq futures, while Bitcoin remained largely unchanged over the previous 24 hours.
The cloud computing company’s (CRWV) third-quarter results offered fresh optimism for the struggling AI sector, sending its shares up 10% during Wednesday’s premarket trading. Bitcoin (BTC) and gold, meanwhile, saw limited price movement.
CoreWeave reported a 168% year-over-year jump in revenue on Tuesday and increased its full-year revenue forecast to a range of $13 billion to $13.3 billion. Despite the strong growth, its net loss widened to $709 million, equivalent to $1.27 per share, primarily reflecting higher interest expenses.
The positive sentiment spread across other AI infrastructure stocks. IREN (IREN) gained 6%, Galaxy Digital (GLXY) rose 5%, and Cipher Digital (CIFR) advanced 7%. Nasdaq 100 futures also climbed more than 1.5%.
Bitcoin and gold remained relatively steady, trading around $74,000 and $4,000 per ounce, respectively, during the 24-hour period.
Meanwhile, the U.S. Dollar Index stayed above 102 following stronger-than-anticipated inflation figures released Tuesday, reinforcing expectations that interest rates could remain higher for longer. Market participants were pricing in an 86% probability of a 25-basis-point Federal Reserve rate increase on Dec. 9, while the likelihood of a larger 50-basis-point hike stood at 14%.
In a separate development, bankers advising Anthropic are reportedly considering an initial public offering valuation of at least $1.5 trillion, surpassing the approximately $1.4 trillion figure discussed a day earlier, according to the Financial Times, which cited people familiar with the matter.
Strategic investors, including Google, Nvidia and Microsoft, are also expected to provide $26 billion through a separate private placement conducted at the same valuation as the anticipated IPO.
