CoreWeave blowout Q3 sparks AI rebound: CRWV jumps 16% premarket, Nasdaq 100 futures surge after two-day rout
What happened
CoreWeave (CRWV) reported third-quarter 2026 results after Tuesday's close that beat expectations across the board: revenue of $3.66 billion, up 168% year over year and above the roughly $3.55 billion LSEG consensus, with adjusted operating income of $379 million — well above its $200-260 million guidance — and a record revenue backlog of $132.5 billion, up 138% year over year. The company raised full-year 2026 revenue guidance to $13.0-13.3 billion and lifted its exit-ARR target to $20-21 billion, while forecasting adjusted profitability in the first half of 2028. Shares rose 7.9% in after-hours trading Tuesday to $52.58, then jumped more than 16% in Wednesday premarket trading. The beat ignited a broad premarket rebound in beaten-down AI and semiconductor shares: Nasdaq 100 futures were up 555 points, S&P 500 futures up 71 and Dow futures up 88, with Nvidia rebounding about 4.4% after two sharply lower sessions and Micron and Marvell also advancing.
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Start your free 14-day trialWho’s affected
- CoreWeave (CRWV) — direct beneficiary, +16% premarket
- Nvidia (NVDA) — +4.4% premarket after a probe-driven two-day slide, as the key GPU supplier to neoclouds
- Micron (MU) and Marvell (MRVL) — advancing in sympathy
- Dell (DELL) — up 7.6% premarket in Europe, as an AI-server maker leveraged to the same demand; the broader Nasdaq 100 / semiconductor complex — futures leading the recovery after the correction.