Overview
- Shares of CoreWeave (CRWV) and Core Scientific (CORZ) rose in after-hours trading Wednesday following Nvidia’s stronger‑than‑expected fiscal third‑quarter results.
- Reports highlighted CoreWeave’s reliance on GPU availability as a key Nvidia cloud partner, with the accelerating “AI factory” build‑out seen boosting utilization rates.
- Core Scientific is positioned to benefit through contracts to host more than 500 megawatts of compute capacity for CoreWeave.
- CoreWeave recently introduced a Zero Egress Migration program that waives data‑transfer fees for customers moving large datasets from AWS, Google Cloud, Azure, IBM, and Alibaba.
- Recent context includes Q3 revenue of about $1.36 billion and a backlog near $55.6 billion, a Buy rating reaffirmed by H.C. Wainwright with a $180 target, and Nvidia holding roughly 7% of CoreWeave.