CoreWeave surge boosts cloud stocks amid Nvidia investigation
Early gains in CoreWeave shares are providing a lift to neocloud stocks and supporting the broader chip sector, even as Nvidia faces scrutiny over alleged security breaches.
CoreWeave shares jumped over 16% in premarket trading after reporting a significant 168% increase in third-quarter revenue and raising its 2026 guidance. This positive news has resonated with other neocloud companies. However, the stock remains significantly down, approximately 65% from its May highs and losing over 40% in the last month.
John Blank, Chief Equity Strategist at Zack’s, believes the stock’s decline presents a value opportunity. Paul Meeks of Freedom Capital Markets expressed strong bullishness, citing improving margins as a potential turning point for the company.
CEO Michael Intrator is scheduled to appear on CNBC’s “Squawk on the Street” for an exclusive interview.
Nvidia shares are also seeing a boost, up over 3%, benefiting other chipmakers like Broadcom, AMD, Intel, and Nebius. The company’s board has engaged law firm Wachtell Lipton Rosen & Katz to investigate CEO Jensen Huang following allegations of compromised company secrets. Senator Charles Schumer has accused President Donald Trump of prioritizing Huang’s interests over U.S. national security, referencing reports that Trump was briefed on the allegations over a year ago. Sources within Nvidia confirmed Huang held a regular meeting with executives at the company’s Santa Clara, California headquarters on Monday.
AI firm Anthropic is preparing for its IPO, offering 825 million shares priced between $70 and $78 per share, with a planned pricing date of November 18 and trading debut on November 19. The IPO filing contains the word “adverse” 257 times. Individual investors may receive around 20% of the offering through platforms like Robinhood, Schwab, Fidelity, SoFi, and E*TRADE.
Jim Cramer views Anthropic’s IPO and strong revenue growth as a positive signal for the tech and AI sectors.
Elsewhere, an attempt to impeach Defense Secretary Pete Hegseth was effectively rejected by the House of Representatives. Concerns are rising regarding the ongoing conflict with Iran, prompting Treasury Secretary Scott Bessent to relocate to a military base. An American soldier has been arrested in London on suspicion of spying for Russia.
Finally, the stock market may be undergoing a significant evolution with the potential tokenization of shares, representing a major shift in how equity is traded.
Source
“CoreWeave provides silver lining for neoclouds as Nvidia storm swirls”
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