Capital Com MENA Securities Trading LLC is regulated by the Capital Market Authority.
Open platformOpen platform

CoreWeave earnings revive AI outlook as Anthropic weighs higher IPO valuation

By CoinDesk

CoreWeave’s (CRWV) third-quarter results offered relief to the battered AI trade, sending its shares up 10% in Wednesday’s premarket trading, while bitcoin (BTC) and gold were little changed.

The provider of cloud computing services to the AI industry said on Tuesday revenue grew 168% year over year and raised its full-year revenue forecast to $13 billion-$13.3 billion. Its net loss widened to $709 million, or $1.27 per share, driven by higher interest costs.

The rally spread across AI infrastructure stocks, with IREN (IREN) gaining 6%, Galaxy Digital (GLXY) rising 5% and Cipher Digital (CIFR) advancing 7%. Nasdaq 100 futures climbed more than 1.5%.

Bitcoin and gold were little changed over 24 hours, holding around $74,000 and $4,000 an ounce, respectively.

The Dollar Index remained above 102 as Tuesday’s hotter-than-expected U.S. inflation report reinforced expectations for higher interest rates in the world’s largest economy. Traders priced in roughly an 86% probability of a quarter-point increase from the Federal Open Market Committee on Dec. 9 and a 14% chance of a half-point move.

Meanwhile, Anthropic’s bankers are considering an IPO valuation of $1.5 trillion or more, above Tuesday’s roughly $1.4 trillion target, the Financial Times reported, citing people familiar with the matter. Strategic partners, including Google, Nvidia and Microsoft, are also set to invest $26 billion through a separate private placement at the IPO price.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.