Set Aside AI Bubble Concerns! CoreWeave and Super Micro Surge in Pre-Market Trading

Artificial intelligence (AI) infrastructure provider CoreWeave (CRWV-US) and Super Micro Computer (SMCI-US) saw their stock prices surge in pre-market trading on Wednesday (12th), as both companies released optimistic financial outlooks, further strengthening market confidence in the continued growth of demand for AI computing power, servers, and data center investments.

CoreWeave (CRWV-US), an AI cloud computing services provider, jumped over 18% in pre-market trading, while peer Nebius Group (NBIS-US) rose 10%. AI server manufacturer Super Micro Computer climbed nearly 9%. Data center operators Applied Digital (APLD-US) and IREN (IREN-US) also gained 6% and 5% respectively, indicating renewed capital inflow into AI infrastructure-related stocks.

CoreWeave raised its full-year revenue, adjusted operating income, and capital expenditure forecasts, primarily driven by strong market demand for its AI infrastructure powered by NVIDIA (NVDA-US) chips, enabling the company to secure new contracts at more favorable pricing.

CEO Michael Intrator stated that the company's available computing capacity is effectively fully sold out, giving CoreWeave greater pricing power in negotiating new computing service agreements. Backlog revenue for Q2 increased from $99.4 billion in the previous quarter to $104.2 billion, and this does not yet include new commitments secured at the beginning of the current quarter worth over $25 billion.

JPMorgan (JPM-US) noted that improved contract pricing at CoreWeave reflects a robust overall demand environment and accelerating customer return on investment (ROI).

Meanwhile, Super Micro projected 2027 revenue above Wall Street expectations, signaling that data center operators continue investing in server hardware for generative AI workloads. The company's Q4 gross margin reached 17.5%, surpassing its previously announced preliminary range of 15% to 17%, alleviating market concerns about profitability.

Year-to-date, CoreWeave's stock has risen over 26%, while Super Micro is up 8%. The latest financial forecasts indicate that despite ongoing market skepticism about the speed of returns on AI capital expenditures, corporate demand for computing power and servers shows no clear signs of cooling in the near term.