Nvidia and Chip Stocks Bounce Back After CoreWeave's Q3 Beat: CRWV +15%, Micron +7%, Intel +6%

Chip stocks are bouncing back Wednesday morning, and CoreWeave is the reason. The AI cloud company beat expectations last night and raised its forecast for the year. At 9:40am ET, CoreWeave was up about 15.5%, Nvidia about 3.2% at $174.36, Micron about 7% and Intel about 6%. For Nvidia that's the first green day after two straight drops over the Jensen Huang investigation.

Published November 11, 2026, morning ET. Prices from Nasdaq at 9:40am ET, checked against Yahoo Finance. They'll move during the day; live prices are on our stock prices page.

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The numbers

What CoreWeave reported

CoreWeave rents out huge piles of Nvidia GPUs to companies training and running AI. So when people get nervous that AI spending is slowing down, CoreWeave is one of the first places to check. Last night's report, per CNBC:

• Revenue $3.66 billion for Q3, against $3.55 billion expected. That's up 168% from about $1.36 billion a year ago.
• It's still losing money: a net loss of $709 million. The adjusted loss of 95 cents a share was smaller than the $1.16 analysts expected.
• 2026 revenue forecast raised to $13 billion to $13.3 billion, above the $12.86 billion analysts expected. Back in August it was $12.4 billion to $13.2 billion.
• Backlog, meaning work already signed but not delivered yet, hit $132.5 billion, up from $104 billion in June.
• It plans to spend $37 billion to $39 billion this year building out capacity.

So the company that buys a ton of Nvidia chips just said demand is still growing and it's spending even more. After last week's sell-off on "AI spending is slowing" worries, that's the kind of thing the market wanted to hear. It's a bit like TSMC's record October we covered yesterday in TSMC revenue jumps 60%.

Not all good news though. CoreWeave carried about $47 billion in debt at the end of the quarter, and all that spending has to get paid for somehow. Worth keeping in mind next time it reports.

Nvidia gets a breather

Nvidia had a rough start to the week. It fell about 4.3% on Monday and 5.47% on Tuesday, closing at $168.89, after its board opened an investigation into CEO Jensen Huang. On Tuesday the board hired the law firm Wachtell, Lipton, Rosen & Katz to run that investigation. CNBC reports it's led by Joon H. Kim, a former acting US Attorney who joined the firm last month. The board still says it has no reason to believe Nvidia's secrets or national security were compromised, and Huang stays CEO for now.

Today's bounce doesn't change any of that. It just means the market is looking at AI demand again instead of only the scandal. We're tracking the legal side in the Nvidia shareholder lawsuit article.

The rest of the chip crowd

Micron jumped about 7% and Intel about 6%. Memory makers like Micron do well when AI data centers keep buying, so a strong CoreWeave report helps them directly. AMD was up less, about 2.8% at 9:40am. Early moves like these can shrink or grow a lot by the close, so don't read too much into the first ten minutes.

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What to watch

• Whether the bounce holds into the close, or fades like some of last week's rebounds (we saw that on November 6).
• Any news from Nvidia's board investigation.
• Nvidia's Q3 earnings on November 17, after the close. That's the big one.

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If you want the back story on how Nvidia went from gaming cards to running the AI boom, The Nvidia Way by Tae Kim is a really good read. And if you're more of a gamer than an investor, the same company still makes the RTX 50 series cards most of us actually buy.

FAQ

Why are chip stocks up today?

CoreWeave beat Q3 expectations ($3.66B revenue vs $3.55B) and raised its 2026 forecast, easing worries that AI spending is slowing.

Why is Nvidia up after falling two days?

Strong CoreWeave numbers pulled AI stocks up. Nvidia was about 3.2% higher at 9:40am ET after dropping Monday and Tuesday over the Jensen Huang investigation.

Who is investigating Jensen Huang?

Nvidia's board, with the law firm Wachtell, Lipton, Rosen & Katz.

This is news, not financial advice.