How much did CoreWeave and Super Micro shares fall?

Super Micro fell 11.3% to $26.99 on Thursday, while CoreWeave slipped 6.86% to $56.60.

What drove CoreWeave's revenue growth?

CoreWeave rents out Nvidia-powered compute, and demand still runs ahead of supply. Pricing on older Ampere and Hopper chips rose 30% to 50% from the prior quarter.

What is the DOJ probe about?

Bloomberg reported that US officials are looking into whether Alice Huang helped smuggle Nvidia-powered servers through Super Micro. Officials say there is no indication that Nvidia or Huang will face criminal charges at this stage.

AI Stocks & MarketsAI Business & IndustryYahoo Finance AI20h agoNov 14, 2026, 01:00 JST

CoreWeave Q3 revenue $3.66 billion, up 168.3%; Super Micro up 298%

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3 Key Points

What happened
CoreWeave's Q3 revenue reached $3.66 billion, up 168.3%, while Super Micro's fiscal Q1 revenue hit $19.9 billion, up 298%, with AI products at 71% of sales.
Why it matters
The revenue surges show AI infrastructure demand still outpaces supply, but Super Micro's gross margin slipped to 12.8% from 17.6% as large deliveries cut the mix.

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Context & Analysis

CoreWeave and Super Micro entered this earnings season with strong momentum, but both quickly ran into external shocks. CoreWeave's Q3 revenue of $3.66 billion, up 168.3%, came as demand for Nvidia-powered compute continued to outstrip supply, and adjusted operating margin reached 10%, a quarter ahead of plan. Super Micro's fiscal Q1 revenue of $19.9 billion, up 298%, was powered by record rack shipments, with AI products accounting for 71% of sales.

The picture darkened when Nvidia CEO Jensen Huang resigned, shaking companies that depend on its GPUs. CoreWeave, which rents out Nvidia-powered compute, saw its stock reportedly fall 14% after the news, even though Michael Intrator had said one day earlier he saw “no reason” for the partnership to change. Super Micro faced a separate blow: a DOJ probe reported by Bloomberg examining whether Alice Huang helped smuggle Nvidia-powered servers through the company. Officials said there is no indication that Nvidia or Huang will face criminal charges at this stage.

The two companies carry different burdens. CoreWeave's debt-to-equity stands at 8.94 and it faces $846 million in quarterly interest expense, but it has a ~$132.5 billion backlog and management claims 10 times more qualified demand than capacity through 2027. Super Micro's debt-to-equity is 0.60, but one customer supplied 44% of revenue and its gross margin slipped to 12.8% from 17.6%. The author sees Super Micro taking the deeper hit, citing the DOJ probe as a faster-moving risk, while noting that a shortfall in CoreWeave's expected ~$9 billion in prepayments would change that view.

FAQ

How much did CoreWeave and Super Micro shares fall?: Super Micro fell 11.3% to $26.99 on Thursday, while CoreWeave slipped 6.86% to $56.60.
What drove CoreWeave's revenue growth?: CoreWeave rents out Nvidia-powered compute, and demand still runs ahead of supply. Pricing on older Ampere and Hopper chips rose 30% to 50% from the prior quarter.
What is the DOJ probe about?: Bloomberg reported that US officials are looking into whether Alice Huang helped smuggle Nvidia-powered servers through Super Micro. Officials say there is no indication that Nvidia or Huang will face criminal charges at this stage.

Yahoo Finance AIRead Original Article

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