CoreWeave shares jumped 11% in premarket trading Wednesday after the neocloud posted quarterly earnings that beat estimates and raised its guidance for the year.
Neoclouds such as CoreWeave, Nebius and IREN have come under scrutiny this month as investors assessed the sustainability of the AI trade. CoreWeave, in particular, sparked alarm when spreads on its CDS widened past 11%, generally viewed as a distress level, as investors have to pay up for protection against default.
