Shares of CoreWeave and Super Micro Computer climbed sharply in premarket trading on Wednesday after stronger forecasts from the two AI infrastructure companies reinforced expectations for continued demand for computing capacity.
CoreWeave shares rose more than 18%, while Nebius Group gained about 10%. Super Micro shares climbed nearly 9%, while data center operators Applied Digital and IREN rose about 6% and 5%, respectively.
CoreWeave raised its forecasts for annual revenue, adjusted operating profit and capital spending, citing strong demand for its Nvidia powered artificial intelligence infrastructure. The company said its near term capacity was effectively sold out, allowing it to negotiate new contracts on more favourable terms.
Its revenue backlog increased to $104.2 billion in the second quarter from $99.4 billion three months earlier. The company also secured more than $25 billion in additional commitments early in the current quarter.
CoreWeave CEO Michael Intrator said strong demand for AI computing capacity was enabling the company to secure better pricing on new agreements. J.P. Morgan analysts attributed the pricing gains largely to strong demand and faster returns on AI investments by customers.
Meanwhile, Super Micro Computer forecast 2027 revenue above Wall Street expectations, signalling continued investment by data center operators in servers and other hardware needed to support generative AI workloads.
The company also reported a fourth quarter gross margin of 17.5%, above its preliminary estimate of 15% to 17% and significantly higher than its earlier forecast of 8.2% to 8.4%.
CoreWeave shares have gained more than 26% this year, while Super Micro has risen about 8%, reflecting continued investor interest in companies supplying the infrastructure behind the global AI boom.
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