CoreWeave results lift AI-linked stocks

GE Vernova

Wed 11:03

** AI-linked stocks in the US claw back Tuesday's losses premarket
** CoreWeave CRWV.O, which has been at the centre of the AI selloff due to spending concerns and its massive debt load, lifts FY revenue forecast and expects to be profitable in 2028  
     
CHIPS
** Nvidia NVDA.O up 3.9% after falling for two straight sessions, peer Advanced Micro Devices AMD.O climbs 4.8%
** Marvell MRVL.O, Applied Materials AMAT.O and Intel INTC.O up in the range of 4.2% to 6.6%
** Memory-chip maker Micron MU.O up 5.8% 
** Data-storage cos Western Digital WDC.O and Sandisk SNDK.O add between 6% and 8.4%
** As of last close, the Philadelphia SE Semiconductor Index .SOX up over 41% YTD 
     
NEOCLOUDS 
** CRWV gains 11.5% after results 
** Morningstar says CoreWeave has over $20 bln available to fund near-term data center expansion, easing concerns over its debt burden
** Peers Nebius NBIS.O and IREN IREN.O up 10.7% and 6.8%, respectively 
** Roundhill Neocloud ETF NCLD.O down nearly 40% since its inception in early August 
     
DATA CENTER-LINKED STOCKS 
** Data center operators: Core Scientific CORZ.O adds 5.9%, Applied Digital APLD.O advances 6.2%, Hut 8 Corp HUT.O up 7.3% 
** GE Vernova GEV.N and Constellation Energy CEG.O , part of the power supply chain for data centers, gain between 1.9% to 3.8%

 (Reporting by Jayasree Prabhu)
 ((Jayasree.prabhu@thomsonreuters.com))