CoreWeave, SueprMicro surge boosts AI stocks
Shares across the AI infrastructure industry rose on Wednesday after CoreWeave, Super Micro Computer and Nebius Group all reported quarterly results eclipsing analyst forecasts. This rally also dragged server makers, memory suppliers and optical component firms to higher numbers in one single session.
Nebius leads gainers, CoreWeave closes behind
Nebius Group (NBIS) was up there among the day’s biggest movers, climbing about 23% to $238.47 after the neocloud provider reported quarterly revenue far ahead of analysts’ expectations. CoreWeave (CRWV), the AI cloud company, gained about 19% to trade at $107.87.
Super Micro Computer (SMCI), the AI server hardware manufacturer, saw an increase of 13% to $35.80 and issuing a forecast that Yahoo Finance said drove the stock up more than 6% on the guidance alone.
AI hosting names including Applied Digital (APLD) and IREN (IREN) also saw price increases.
CoreWeave faces order backlog
CoreWeave’s order backlog topped at $100 billion, a figure up about 50% from the previous quarter, and with CoreWeave reporting a further $25 billion in customer orders arriving after the quarter closed.
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