CoreWeave Q3 Revenue Surge of 168% Reignites AI Infrastructure Rally Across Global Markets

CoreWeave reported third-quarter revenue of $3.66 billion, beating analyst expectations of $3.55 billion and marking 168% year-over-year growth. The cloud computing company also raised its full-year revenue forecast and posted a narrower-than-expected adjusted loss of 95 cents per share against the $1.16 expected, easing investor fears about its debt-laden business model.

The report acted as a broad catalyst for AI infrastructure stocks on Wednesday, November 11. Nasdaq 100 futures rallied 2% in the premarket, and the gains spread globally into European semiconductor names. ASML rose approximately 3%, with Infineon advancing 6.3% and ASMI up 5.5% and ST Microelectronics gaining 4%.

Among the notable individual movers, Nebius Group surged roughly 14.78%, with the market anticipating the company's own Q3 results the following day, where analysts projected revenue growth of 521% to $907.2 million. Teradyne climbed roughly 12.73%, while Bloom Energy gained around 11%, supported both by the broader AI rally and a Barclays upgrade to Overweight on stronger-than-expected demand. Tandy Leather Factory and Spirax-Sarco Engineering also saw notable gains on the day.

Nvidia held on to the No. 2 market capitalization spot globally, a point of focus after Microsoft had briefly reclaimed that position on November 10 as Nvidia shares fell on AI-outlook uncertainty and news of an investigation involving CEO Jensen Huang.