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CoreWeave (Nasdaq: CRWV) is set to report its third-quarter earnings after the U.S. market closes on Nov. 10, with options traders pricing in a potential double-digit stock swing.
The report would follow a difficult month for the AI infrastructure company, that has drawn criticism from CNBC host Jim Cramer and Tesla CEO Elon Musk over its stock performance and mounting debt.
Related: Goldman Sachs revises rating and target on beaten-down AI stock
From Ethereum mining to AI infrastructure
CoreWeave began in 2017 as Atlantic Crypto, a cryptocurrency mining company founded by former hedge fund colleagues Michael Intrator, Brian Venturo and Brannin McBee.
“We were the largest Ethereum miner in the world for like two and a half years,” Venturo told TechCrunch in March 2025, adding that the company once operated 50,000 Nvidia GPUs.
The company rebranded as CoreWeave in December 2019 and shifted toward renting computing power for artificial intelligence.
CoreWeave went public on March 28, 2025, raising $1.5 billion at a roughly $14 billion valuation. Its stock subsequently reached an all-time high of $187 on June 20, 2025.
Despite securing an $8.5 billion loan in March 2026 for AI infrastructure, CoreWeave’s total debt has approximately exceeded $50 billion this year, driving its unsecured notes into distressed yields.
Company shares have also fallen sharply over the last few months amid concerns surrounding its AI infra costs.
On Oct. 20, Cramer wrote on X, "I think I am a prisoner of Coreweave and I am breaking out," without confirming whether he had sold his shares.
A week later, he questioned the company’s borrowing costs.
Jim Cramer attends Charity Day 2025
Photo by Slaven Vlasic/Getty Images for Cantor Fitzgerald
"If Jensen thinks that CoreWeave is money good he should buy up their their 15% debt," Cramer wrote, referring to Nvidia CEO Jensen Huang.
Musk had expressed similar concern on Oct. 13.
When investor Chamath Palihapitiya flagged CoreWeave’s bond yield reaching 15%, Musk replied with a single word: “Yikes.”
CoreWeave shares fell sharply the following day, trading near $65.97 during the session.
CoreWeave chart signals potential rebound
In a Nov. 10 post, Barchart highlighted CoreWeave shares bouncing from the lower boundary of a descending price channel.
CRWV’s one-year daily chart shared by Barchart on Nov. 10, showing shares bouncing off the lower boundary of the descending channel. The original post also promotes Tradr’s CWVX leveraged ETF.
The pattern suggests a possible countertrend rally, meaning a short-term recovery within a broader downward trend.
Options markets, however, indicate significant uncertainty ahead of earnings.
While Barchart estimates a 15% expected move, TipRanks estimated 18.17% in its Nov. 10 analysis.
CoreWeave’s previous four post-earnings stock moves averaged approximately 16.4% in absolute terms.
The Barchart and TipRanks figures reflect volatility implied by options pricing, while the 16.4% average reflects actual past moves. None predicts whether the stock will rise or fall
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Wall Street awaits CoreWeave earnings
CoreWeave will release its third-quarter results after Tuesday’s market close, with an earnings call scheduled for 5 p.m. ET.
Analysts expect revenue to climb approximately 160% year over year to $3.54 billion, according to TipRanks.
The company could also report a wider loss of $1.27 per share, compared to the eight-cent loss it had clocked last year.
Investors will be watching whether demand for AI computing can justify CoreWeave’s aggressive expansion and borrowing costs.
Wall Street remains cautiously optimistic, with a Moderate Buy consensus based on 21 Buy, five Hold and three Sell ratings. The average analyst price target stands at $123.21.
CoreWeave’s previous earnings report triggered a 19.3% stock rally after the company posted a smaller-than-expected loss.
This time, attention will also focus on financing plans, debt obligations and management’s outlook for AI infrastructure demand.
CoreWeave shares traded at $47.53, down 2.95%, at press time.
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