CoreWeave Leads Tech Stocks In Rally—Up 21%—After Earnings Eased AI Debt Fears

CoreWeave (CRWV) announced it won't use unsecured debt at current yields, relying instead on about $9 billion in customer prepayments and deposits over the next three months. The company expects to raise less than $5 billion in new parent-level capital through 2027, with most capex funded by contract loans and customer prepayments. CoreWeave's weighted average cost of debt was 7.9% at the end of Q3, down 250 basis points in a year.

Bloom Energy (BE) surged 15% to $213.09 after CoreWeave (CRWV) reported strong results, easing concerns about AI data center funding. BE is down 24% in the past month but up 145% YTD. FuelCell Energy (FCEL) rose 5%, while Plug Power (PLUG) dipped 0.7%. Texas' data center permitting debate remains a risk.

Micron (MU) shares rose Wednesday after CoreWeave (CRWV) reported better-than-expected Q3 earnings, raised 2026 revenue guidance, and increased capital investment plans. CoreWeave's growth and profitability outlook suggest higher demand for Micron's memory chips, benefiting Micron's revenue prospects.

Micron (MU), Sandisk (SNDK), and other memory stocks rose after CoreWeave (CRWV) reported strong Q3 results, easing AI infrastructure concerns. CoreWeave's revenue surged 168% YoY to $3.66B, beating estimates, and raised its full-year forecast. Micron and Sandisk shares gained ~6% premarket. CoreWeave's debt and interest expenses remain high.

CoreWeave CEO canceled stock-sale plans, confirming data center builds remain on track. The company plans an asset-backed debt offering with a 7-7.5% interest rate and has raised $9B from customer prepayments. CoreWeave reported Q3 revenue of $3.66B, up 168% YoY, and forecast 2026 revenue of $13B-$13.3B. The CEO reaffirmed Nvidia partnership. Semiconductor stocks rose following the results.

CoreWeave's stock rose 20% after beating earnings estimates and raising guidance, with CEO citing high demand. Anthropic's upcoming IPO is oversubscribed, seeking up to $90.4B, with a potential valuation of $1T. Seven tech firms, including Nvidia and Microsoft, will invest $26B in a private placement.