Nov. 13 (CandyPulse) — One day CoreWeave was the market's star; the next it was caught in someone else's storm. Shares of the AI cloud company fell nearly 7% on Thursday after Nvidia's CEO resigned, shaking confidence across AI stocks.
Key takeaways
| Item | Reading |
|---|---|
| Close on Nov. 12 | $56.60, down 6.86% |
| Intraday low | Down as much as 15% |
| Previous day | Up 24.71% after Q3 results |
| Nvidia on the day | Closed down 4.34% |
| Peer Nebius | Shares down about 17% |
CoreWeave rents out computing power for AI, and that computing power runs on Nvidia chips. Nvidia is its key supplier and a close partner. So when Jensen Huang stepped down, investors asked an obvious question: does the relationship stay as strong under new leadership?
Nobody knows yet, and markets dislike not knowing. That uncertainty, more than anything about CoreWeave itself, drove the fall.
AI infrastructure stocks fell together. Rival Nebius dropped about 17% after saying its 2026 revenue would land at the low end of its forecast. The S&P 500 and Nasdaq also closed lower.
It helps to separate the share price from the company:
Even after Thursday's drop, the stock is well above where it stood before the results.
The AI sell-off and the crypto sell-off happened on the same day. Bitcoin broke below $70,000, ether lost $2,000 and Solana fell below $80. The same investors hold both, and when they cut risk, they cut it everywhere.
Watch Nvidia's earnings call on Nov. 17, the first under interim CEO Colette Kress, for any comment on partners like CoreWeave. Also watch whether AI stocks steady once the first shock passes.
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Disclaimer: This article is for information only and is not financial advice. Market figures move quickly and different data providers can show slightly different numbers. Always do your own research before making any investment decision.
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