Overview

• CoreWeave fell about 4% to $135.76 on Tuesday as traders reassessed risk, though the stock remains above its 50- and 200-day moving averages.
• Magnetar sold 4.79 million shares in October worth roughly $674.6 million, bringing its post–lock-up sales to more than $2 billion, while CEO Michael Intrator and CSO Brian Venturo also sold stock in early October.
• Short-seller Jim Chanos questioned CoreWeave’s long-term returns, warning that rapid GPU depreciation could drive near-zero return on invested capital.
• Operational visibility remains substantial with Q2 revenue around $1.21 billion, a reported $30.1 billion backlog as of June 30, and multi-year awards including up to $22.4 billion from OpenAI and about $14 billion from Meta.
• Nvidia agreed to purchase up to $6.3 billion of unsold capacity through April 2032, and CoreWeave acquired UK-based Monolith AI to expand into manufacturing and R&D use cases as U.S.–China trade tensions add macro pressure.