CoinDesk
CoreWeave shares rose 10% in premarket trading after the AI cloud provider reported 168% year-over-year quarterly revenue growth and raised its full-year revenue forecast to $13 billion to $13.3 billion. Its net loss widened to $709 million, or $1.27 per share, as interest costs rose.
Why it matters
The results offered relief to the battered AI trade, with gains spreading across infrastructure stocks. The higher forecast points to growing revenue at a company supplying cloud computing services to the AI industry, although its widening loss highlights the cost of financing that growth.
Separately, Anthropic's bankers are considering an IPO valuation of $1.5 trillion or more, up from a roughly $1.4 trillion target, the Financial Times reported. Google, Nvidia and Microsoft are among strategic partners set to invest $26 billion through a separate private placement at the IPO price.
Market impact
Bitcoin was little changed over 24 hours at around $74,000, while gold held near $4,000 an ounce. Nasdaq futures rose alongside AI infrastructure shares.
The Dollar Index remained above 102 after a hotter-than-expected US inflation report reinforced expectations for higher interest rates. Traders priced in roughly an 86% probability of a quarter-point Federal Reserve increase on Dec. 9 and a 14% chance of a half-point move.
Frequently asked questions
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How fast did CoreWeave's quarterly revenue grow?
CoreWeave reported 168% year-over-year quarterly revenue growth and raised its full-year revenue forecast to $13 billion to $13.3 billion.
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Why did CoreWeave's net loss widen?
CoreWeave's net loss widened to $709 million, or $1.27 per share, as interest costs rose.
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What valuation are Anthropic's bankers considering for an IPO?
Anthropic's bankers are considering a valuation of $1.5 trillion or more, above a roughly $1.4 trillion target, the Financial Times reported.
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How did Bitcoin and gold trade during the AI stock rally?
Bitcoin was little changed over 24 hours at around $74,000, while gold held near $4,000 an ounce.
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What were traders pricing for the Fed's Dec. 9 decision?
Traders priced in roughly an 86% probability of a quarter-point interest rate increase and a 14% chance of a half-point move.
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