Stock Market Today: Dow Jones' Loss Deepens To 800 Points; This Name Plummets After CoreWeave Sells Stake (Live Coverage)
The Dow Jones fell 800 points Friday as Israel launched major attacks on Iran. Applied Digital tumbled on news CoreWeave sold its entire stake in the company.
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CoreWeave Guides $4.9-$5.1B in 2025 Revenues: What's Fueling This?
CoreWeave, Inc. CRWV has guided 2025 revenues to be in the range of $4.9-$5.1 billion, fueled by surging AI-infrastructure demand. CRWV is an AI-focused hyperscaler company and its cloud platform has been developed to scale, support and accelerate GenAI. Businesses have been increasing spending on AI inference/fine-tuning, AI workload monitoring and training infrastructure, including training compute, AI servers, AI storage, cloud workloads and networking. This increasing demand for AI-cloud platforms, including integrated software and infrastructure, bodes well for CRWV. Strategic deal wins like the OpenAI contract (which has a value up to $11.9 billion) and a $4 billion expansion with a major AI-enterprise client are driving forward revenue visibility. The company also unveiled the next generation of its CoreWeave AI object storage. This is purpose-built for training and inference, offering a production-ready, scalable solution integrated with Kubernetes. CoreWeave now boasts a growing network with 33 data centers across the United States and Europe, supported by 420 megawatts of active power. Moreover, the buyout of the Weights and Biases has added 1,400 AI labs and enterprises as clients for CoreWeave. Apart from scaling capacity and getting adequate financing for infrastructure, CRWV is also expanding its go-to-market capabilities. With a success-based capex model and expanding global reach, CoreWeave appears well-positioned to capture a significant share of the AI-infrastructure market. On the first quarter earnings call, CRWV highlighted that AI is forecasted to have a global economic impact of $20 trillion by 2030, while the total addressable market is anticipated to increase to $400 billion by 2028. This uptrend in spending will benefit other players in this space, including smaller players like Nebius Group N.V. NBIS and tech behemoths like Microsoft Corporation MSFT. Driven by accelerating demand for its AI-infrastructure services, Nebius remains confident in achieving the full-year annualized run-rate revenue ('ARR') guidance of $750 million to $1 billion. For 2025, the company also reaffirmed its overall revenue guidance of $500 million to $700 million. In the first quarter of 2025, ARR saw a 700% jump, highlighting a structurally expanding revenue base. ARR for April was $310, which provides a strong start for the second quarter. To gain a larger share of the AI-cloud compute market, NBIS is focusing on technical enhancements that increase reliability and reduce downtime to boost customer retention. Microsoft projects revenues between $28.75 billion and $29.05 billion for the fourth quarter of fiscal 2025 for Intelligent Cloud, while for Azure, it expects revenue growth at constant currency between 34% and 35%. In Enterprise Services, revenues are forecasted to grow in mid-to-high single digits. The rising adoption of enterprise capabilities of Azure OpenAI and Copilots across Microsoft 365, Dynamics 365 and Power Platform bodes well. With Azure AI, Microsoft is establishing itself as the application server for the AI era, offering access to a broad range of models tailored to customers' specific needs around cost, latency and design. The number of Azure AI customers and average spending continue to grow. Shares of CoreWeave have gained 120.8% year to date compared with the Internet Software industry's growth of 4.1%. Image Source: Zacks Investment Research CRWV currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report Nebius Group N.V. (NBIS) : Free Stock Analysis Report CoreWeave Inc. (CRWV) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
15 hours ago
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Dow Jones Index Today: DJIA Drops on Israel Strikes as Consumer Sentiment Jumps
The Dow Jones (DJIA) is down by over 1% as the market processes the impact of Israel's attack on Iran's nuclear and military facilities. Meanwhile, oil prices are surging as the conflict threatens to disrupt energy supply chains in the Middle East. Confident Investing Starts Here: On Friday, President Trump said that Israel's strikes will actually be a positive for the market. 'I think ultimately, it would be great for the market because Iran will not have a nuclear weapon. It will be great for the market—should be the greatest thing ever for the market. Iran won't have a nuclear weapon that was a great threat to humanity,' said Trump in an interview with the Wall Street Journal. Trump also added that he was aware of the attack before it occurred and that he plans to speak with Israeli Prime Minister Benjamin Netanyahu today. Meanwhile, consumer sentiment has finally reversed a six-month slump based on the University of Michigan's Index of Consumer Sentiment. The index's preliminary June reading came in at 60.5, above the estimate for 53.5 and up from 52.2 in May. Furthermore, UM's year-ahead inflation expectation tallied in at 5.1% compared to 6.6% last month. Long-run inflation expectations are now at 4.1%, down from 4.2%. Which Stocks are Moving the Dow Jones? Let's shift our attention to TipRanks' Dow Jones Heatmap, which illustrates the stocks that have contributed to the index's price action. In a weak finish to the week, every single technology stock within the index is falling, led by Salesforce (CRM) and Nvidia (NVDA). In addition, payment providers Visa (V) and American Express (AXP) are taking a hit after the Wall Street Journal reported that Amazon (AMZN) and Walmart (WMT) are exploring the idea of issuing proprietary stablecoins. Elsewhere, communications services, energy, and healthcare, excluding embattled UnitedHealth Group (UNH), are relatively muted as we head into the weekend. DIA Stock Moves Higher with the Dow Jones The SPDR Dow Jones Industrial Average ETF (DIA) is an exchange-traded fund designed to track the movement of the Dow Jones. In addition, DJIA can't be bought or sold, although DIA can be. Wall Street believes that DIA stock has room to rise. During the past three months, analysts have issued an average DIA price target of $466.70 for the stocks within the index, implying upside of 9.82% from current prices. The 31 stocks in DIA carry 30 buy ratings, 1 hold rating, and zero sell ratings.
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Applied Digital (NasdaqGS:APLD) Partners With ABB To Enhance AI Data Center Efficiency
Applied Digital recently announced a significant infrastructure partnership with ABB, aiming to enhance the energy efficiency and power density of AI data centers. This development appears to align with the company's impressive share price growth of 127% over the past month. The partnership may have contributed to this surge by boosting investor confidence in the company's forward-looking AI initiatives. Amidst this, broader market indices like the S&P 500 and Nasdaq have experienced smaller, steady gains, suggesting that Applied Digital's specific developments provided additional momentum beyond overall market trends. Be aware that Applied Digital is showing 2 risks in our investment analysis and 1 of those is a bit unpleasant. Find companies with promising cash flow potential yet trading below their fair value. The recent partnership between Applied Digital and ABB represents a significant development that could bolster the company's AI data center initiatives. This collaboration aligns with Applied Digital's efforts to improve energy efficiency and power density, key considerations for future revenue growth and net margin improvement. By addressing these areas, Applied Digital could better position itself to handle anticipated developments, such as the transition to a data center REIT structure and ongoing strategic options for its Cloud Services Business. Over the past five years, Applied Digital's total shareholder return, encompassing both share price appreciation and dividends, has increased by a very large percentage, specifically 13289.04%. This growth contrasts starkly with the broader market, where over the past year, the company's shares have surpassed the US Market's 11.2% return and the US IT industry's 40.1% return. Such performance highlights investor optimism surrounding the company's strategic shifts and business potential. The recently announced partnership and shift in business strategy are expected to significantly influence Applied Digital's revenue and earnings forecasts. The strategic moves are anticipated to be crucial in increasing future revenue, especially with the projected $5 billion investment influx from collaborations like Macquarie Asset Management. Despite the current challenges, analysts suggest that substantial revenue and earnings growth is expected, although profitability remains a few years away. With a current share price of US$4.48 and an analyst price target of US$9.94, the shares trade at a notable discount, indicating potential upside amidst these strategic developments. As the company continues to execute its business plans, monitoring how these predictions unfold in the coming months will be essential for stakeholders. Gain insights into Applied Digital's historical outcomes by reviewing our past performance report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:APLD. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
