Baker Jeff sold $115K of CRWV

CoreWeave reported Q2 revenue of $2.6B, up 112% YoY, and raised 2026 guidance to $12.4B-$13.2B. The company cited strong demand, price increases, and new chip platform margins. Managed inference revenue grew to over $100M. CoreWeave has a $104.2B backlog and plans $35B-$39B in capex. Analysts project significant revenue growth and mostly positive ratings.

CoreWeave (CRWV) shares fell 19% after Q4 earnings missed expectations, with a loss of $0.56 per share on $1.57B revenue. The company projected 2026 capex of $30B-$35B, up from $14.9B in 2025. Q1 revenue guidance of $1.9B-$2B also fell short. Analysts cut price targets, with JPMorgan reducing to $90 and Mizuho to $95.

CoreWeave (CRWV) reports signing customers at higher prices since June 30, with $40M annualized revenue per megawatt. Q2 revenue doubled to $2.575B, but operating loss widened to $49M. Customer backlog reached $104B, with additional $25B in new commitments. The company faces rising costs and debt, with short-term contracts requiring frequent price resets.

CoreWeave (CRWV) and Iren (IREN) are competing in the AI cloud services market. Iren, a Bitcoin miner, is transitioning to AI infrastructure, with AI cloud revenue up nearly eightfold in fiscal 2025. JPMorgan upgraded Iren to buy with a $65 price target, citing customer traction and an Nvidia alliance. Iren reported net losses due to investment in its platform.

Generac (GNRC) surged 25% after an $8B deal with Amazon to supply backup generators for data centers. CoreWeave raised $3.7B in convertible notes for AI infrastructure. Baldwin Insurance agreed to a $7.7B take-private deal. Marvell (MRVL) and GlobalFoundries expanded a chip production deal. Nebius raised GPU cloud service prices. Steel Dynamics (STLD) and Nucor (NUE) issued weak Q3 guidance despite strong shipments.

AI infrastructure stocks SMCI, CRWV, NBIS, and VRT fell 6.1%, 5.6%, 5.3%, and 7.7% respectively, following calls from AI CEOs to slow AI development. Other AI-related stocks like MU, SNDK, AMD, NVDA, and INTC also declined. Broader market pressures, including rising oil prices and Treasury yields, contributed to the downturn. Analysts note potential risks to these companies if AI development slows.