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CoreWeave and Supermicro set to report after the bell
CoreWeave has fallen about 30% since its May earnings report, while Supermicro expects better-than-projected margins after adding $60 billion in new orders.
Tech stocks were mixed Tuesday as investors looked ahead to after-hours results from AI infrastructure companies CoreWeave and Supermicro, according to Yahoo Finance.
CoreWeave shares have dropped roughly 30% since its last earnings report in May amid concerns about revenue growth and spending plans. For the current quarter, analysts are expecting an adjusted loss per share of -$1.18 and revenue of $2.5 billion, while the company continues to spend billions building AI data centers with high-powered chips it rents to customers including Meta and Anthropic.
Supermicro, meanwhile, has already offered a preliminary view of results, saying it expects better than projected margins and booked $60 billion in new orders during the quarter. The stock is up more than 9% year-to-date, but down about 29% from its one-year highs.
Also in the tech space, Intel said it upsized its common stock sale from $15 billion to $20 billion due to strong demand, with proceeds intended to help finance capital expenditures as it builds out its manufacturing footprint.