CoreWeave slides 15% as Nvidia leadership shock rattles AI infrastructure trade Louis Juricic Thu, November 12, 2026 at 10:00 AM EST 3 min read NVDA -7.48% CRWV -9.57% NBIS -18.80% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Investing.com -- CoreWeave shares fell 15% on Thursday, giving back much of the previous session's nearly 25% rally, as Jensen Huang's departure as Nvidia CEO rattled the AI infrastructure sector and disappointing guidance from Nebius added to investor concerns.
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Nvidia confirmed that Huang is stepping down, with Chief Financial Officer Colette Kress taking over as interim CEO while the company searches for a permanent successor. The departure marks a major leadership change at the world's dominant AI chipmaker and introduces fresh uncertainty for companies whose businesses are closely tied to Nvidia's ecosystem.
CoreWeave is particularly exposed to developments at Nvidia, which is both a strategic investor and a key technology partner. The chipmaker also plays a broader role in financing and supporting the AI infrastructure ecosystem, making the leadership upheaval potentially significant beyond Nvidia itself.
The concerns extend to the financial relationships underpinning the AI infrastructure boom, with investors already scrutinizing the extent to which Nvidia-backed financing helps sustain demand for its own chips and the infrastructure built around them.
The pressure was compounded by Nebius Group's quarterly results and outlook. Although the Amsterdam-based AI cloud provider reported third-quarter revenue of $981 million, above analyst expectations of $907.5 million, its updated spending plans and delays in bringing additional capacity online disappointed investors.
Nebius said some third-party capacity originally expected to become available this year has been pushed into the first half of 2027. The company expects to reach its target of more than $7 billion in annualized run-rate revenue approximately two months later than initially planned.
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At the same time, Nebius raised its 2026 capital expenditure forecast to approximately $27 billion, up from a previous range of $20 billion to $25 billion, and projected spending of $40 billion to $45 billion next year.
The company expects 2027 revenue of $12 billion to $13 billion, while saying that customer prepayments and asset-backed financing will cover approximately 75% to 85% of next year's spending.
The outlook highlights the enormous capital requirements and execution challenges facing AI cloud providers, even as demand for computing capacity remains strong.
CoreWeave had offered investors a dose of reassurance just one session earlier. The company reported third-quarter revenue of $3.66 billion, up 168% year over year, and raised its full-year revenue forecast to $13 billion to $13.3 billion. Its revenue backlog reached approximately $132.5 billion.
CEO Michael Intrator also said the company was largely sold out through 2027, reinforcing the argument that demand for AI computing continues to outstrip available supply.
Thursday's reversal suggests that strong demand and growing backlogs are not enough to shield the sector from broader concerns about its dependence on Nvidia, financing requirements and the pace at which new infrastructure can be delivered.
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