Wall Street's major market averages were up in late-morning trading Wednesday, as tech stocks were led by a sharp jump in CoreWeave (CRWV) shares.
In company news, CoreWeave reported a Q3 net loss late Tuesday of $1.27 per diluted share, widening from a loss of $0.22 a year earlier but narrower than the FactSet consensus analyst estimate of a loss of $1.54. Revenue was $3.66 billion, up from $1.37 billion a year earlier and above the FactSet consensus of $3.54 billion. For fiscal 2026, the company expects revenue of $13 billion to $13.3 billion, up from its previous guidance of $12.4 billion to $13.2 billion and above the FactSet consensus of $12.91 billion. The company also expects adjusted operating income of $1.28 billion to $1.38 billion, up from its prior guidance of $960 million to $1.15 billion. CoreWeave shares were up 24.0% around midday.
Anthropic's giant initial public offering has drawn multiple times the orders for the shares available, driven by so-called anchor-size indications of interest, Bloomberg reported Wednesday, citing people familiar with the matter. The company and its co-founders are looking to raise as much as $90.4 billion combined from the IPO and a private placement, the report said, citing Anthropic's filing. Separately, Anthropic's bankers are considering raising the AI firm's IPO price above its initial range of $70 to $78 per share after receiving strong investor demand, potentially increasing its valuation to $1.5 trillion or more, the Financial Times reported Tuesday, citing people familiar with the matter.
OpenAI's Q3 revenue surged nearly 50% to $10 billion, The Information reported late Tuesday, citing a person familiar with the matter. The ChatGPT maker told investors during a call that its operating losses, however, increased to $10.9 billion from $10.1 billion, the report said, citing the person.
Nvidia (NVDA) H200 AI chips were bought by a Chinese university with ties to the country's military last month despite the institution being on a US export blacklist, Reuters reported Wednesday, citing procurement records. Nvidia shares were up 4.2%.
Price: 60.36, Change: +11.63, Percent Change: +23.87
