AI Stocks Rally on CoreWeave, Anthropic

AI stocks rallied Wednesday as CoreWeave’s results and positive feedback from Anthropic’s ongoing IPO roadshow lifted investor sentiment, according to Investor’s Business Daily. Gil Luria, head of technology research at D.A. Davidson, said Anthropic’s roadshow was going well and supporting the AI trade. Bloomberg, citing unnamed sources, reported strong Wall Street demand for Anthropic’s IPO, whose expected trading debut is seen as a major test of investor views on the AI megatrend.

CoreWeave shares rose more than 20% in morning trading after the AI data center company reported results described as solid. The report appeared to ease concerns about heavy spending on AI infrastructure. Oracle shares gained more than 10% Wednesday as the company expanded its cloud computing services. CFO Hilary Maxson said investors had questioned whether AI data center capacity could become overbuilt, but Oracle still saw strong demand.

Maxson said Oracle customers were committing to services years in advance, including two, three or four years out, giving the company early indications if demand changed. She said Oracle had not seen such a change and described the market as very hot from a demand standpoint. Nvidia, which had a difficult week amid a scandal involving CEO Jensen Huang and another analyst downgrade ahead of its earnings report next week, joined the rally, gaining more than 4% in midday trading.

AI stocks rallied Wednesday as CoreWeave’s results and positive feedback from Anthropic’s ongoing IPO roadshow lifted investor sentiment, according to Investor’s Business Daily. Gil Luria, head of technology research at D.A. Davidson, said Anthropic’s roadshow was going well and supporting the AI trade. Bloomberg, citing unnamed sources, reported strong Wall Street demand for Anthropic’s IPO, whose expected trading debut is seen as a major test of investor views on the AI megatrend.

CoreWeave shares rose more than 20% in morning trading after the AI data center company reported results described as solid. The report appeared to ease concerns about heavy spending on AI infrastructure. Oracle shares gained more than 10% Wednesday as the company expanded its cloud computing services. CFO Hilary Maxson said investors had questioned whether AI data center capacity could become overbuilt, but Oracle still saw strong demand.

Maxson said Oracle customers were committing to services years in advance, including two, three or four years out, giving the company early indications if demand changed. She said Oracle had not seen such a change and described the market as very hot from a demand standpoint. Nvidia, which had a difficult week amid a scandal involving CEO Jensen Huang and another analyst downgrade ahead of its earnings report next week, joined the rally, gaining more than 4% in midday trading.