AI stocks rally as CoreWeave earnings exceed expectations

CoreWeave's third-quarter beat, a $132.5 billion backlog and raised guidance lifted AI infrastructure names and memory chipmakers CoreWeave just gave nervous AI investors something they badly wanted: proof that the money is still flowing. The AI-focused cloud provider posted third-quarter 2026 revenue of $3.66 billion. That beat estimates of approximately $3.55 billion and marked a 168% jump from the same period a year earlier. Shares climbed, and much of the AI trade climbed with them. Revenue of $3.66 billion in a single quarter, up 168% year-over-year, is the kind of growth rate usually reserved for much smaller companies. CoreWeave also raised its full-year outlook. The company now expects 2026 revenue between $13.0 billion and $13.3 billion.

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