CoreWeave’s impressive revenue growth sparked a rally in AI infrastructure stocks and lifted Nasdaq futures, while Bitcoin remained relatively unchanged over the past 24 hours.
Shares of CoreWeave (CRWV) surged 10% in Wednesday’s premarket trading after the cloud computing firm delivered strong third-quarter results, providing renewed confidence in the struggling AI sector. Bitcoin (BTC) and gold, however, traded with little volatility.
The company reported a 168% annual increase in third-quarter revenue on Tuesday and upgraded its full-year revenue guidance to $13 billion–$13.3 billion. However, its net loss widened to $709 million, or $1.27 per share, as higher interest costs weighed on its financial performance.
Other AI-related stocks also moved higher following the results. IREN (IREN) gained 6%, Galaxy Digital (GLXY) advanced 5%, and Cipher Digital (CIFR) climbed 7%. Nasdaq 100 futures posted gains of more than 1.5%.
Meanwhile, Bitcoin hovered around $74,000, while gold remained near $4,000 per ounce, with both assets showing minimal changes over the 24-hour period.
The U.S. Dollar Index continued trading above 102 after Tuesday’s hotter-than-expected inflation figures reinforced expectations that the Federal Reserve could maintain restrictive monetary policy. Markets were pricing in an 86% chance of a 25-basis-point rate increase at the Fed’s Dec. 9 meeting, compared with a 14% probability of a 50-basis-point hike.
Elsewhere, Anthropic’s potential IPO valuation is reportedly being discussed at $1.5 trillion or higher, exceeding the approximately $1.4 trillion valuation considered on Tuesday, the Financial Times reported, citing people familiar with the matter.
The proposed offering could also attract another $26 billion from strategic investors, including Google, Nvidia and Microsoft, through a separate private placement expected to be priced at the same valuation as the IPO.
