Nvidia’s Earnings Jolt Sends CoreWeave, AMD, and Super Micro Stocks Surging

Nvidia’s upbeat forecast ignited a broad AI rally and sent CoreWeave, AMD, Super Micro and other AI-exposed stocks higher as investors embraced a renewed wave of confidence in the sector’s growth.

Nvidia’s (NVDA) latest earnings didn’t just calm Wall Street’s nerves. They lit a fire under nearly every company tied to the AI buildout, from data-center upstarts like CoreWeave (CRWV) to hardware giants like AMD (AMD) and Super Micro Computer (SMCI). After Nvidia told investors the AI cycle is running strong and its next-gen chips are on track, the entire sector caught a tailwind.

Here is how the optimism spread.

CoreWeave Gains Momentum as Customers Ramp Up AI Renting

AI computing company CoreWeave jumped 9.5% in premarket trading after Nvidia reassured the market that the rollout of its Rubin hardware is going smoothly. CoreWeave rents Nvidia chips to AI firms. Its entire business model depends on Nvidia’s ability to ship hardware on time and to forecast demand accurately. Nvidia delivered both.

Oracle (ORCL) also moved higher as investors shifted focus from its debt load to its exposure to the AI data-center boom. Oracle climbed 3.5% early Thursday.

Super Micro Computer (SMCI) rose 5.9% and crypto-miner-turned-AI-infrastructure shop IREN (IREN) rallied 8.6%, signaling broader relief across data-center operators.

Nvidia executives also addressed another worry in the market. They said customers are not slowing upgrades to stretch depreciation schedules and pointed out that hardware sold six years ago is still fully used. This comment eased fears that demand would cool as older chips linger in service.

Analysts Boost Confidence as AI Spending Plans Grow

J.P. Morgan analyst Samik Chatterjee said Nvidia’s report should “help alleviate investor concerns regarding the AI investment cycle modestly,” offering a lift for companies tied to the AI boom.

The spillover was immediate. AMD rose 4.5% and Broadcom (AVGO) gained 2.9% as Nvidia’s multiyear growth outlook confirmed that the pie keeps getting bigger. Nvidia’s CFO Colette Kress said its processors will remain the “superior choice,” but her estimate of three to four trillion dollars in annual AI infrastructure spending by the end of the decade leaves room for multiple winners.

Nvidia Expands AI Funding and Lifts the Entire Ecosystem

Investors also cheered Nvidia’s role as a financier of the AI surge. Nvidia and OpenAI signed a letter of intent in September where Nvidia plans to invest up to 100 billion dollars into OpenAI to boost AI data-center capacity. The deal is not finalized, but CEO Jensen Huang told analysts he expects “extraordinary returns” from that commitment and from Nvidia’s support of Anthropic.

Melius Research analyst Ben Reitzes argued that Nvidia’s financial backing of OpenAI helps the whole sector. He wrote that Nvidia’s support “ironically even helps competitors like AMD and Broadcom and partners like Oracle and CoreWeave.”

Networking Stocks Rise as Nvidia’s Data-Center Engine Expands

The optimism reached networking suppliers too. Nvidia’s networking revenue more than doubled year-over-year in the October quarter. This strength lifted optical component makers like Coherent (COHR), Fabrinet (FN), and Lumentum Holdings (LITE) in early trading.

Even Arista Networks (ANET) climbed 3.5% as investors bet that AI data-center growth is big enough for multiple players, despite Nvidia taking share with its Ethernet products.

Is Nvidia Stock a Buy, Hold, or Sell?

Wall Street remains broadly optimistic on Nvidia. Based on 39 analyst ratings over the past three months, Nvidia holds a Strong Buy consensus, with 37 Buy ratings, one Hold, and one Sell.

Analysts see more upside ahead. The average 12-month NVDA price target is $243.09, which implies a 30.33% gain from the most recent share price.

See more NVDA analyst ratings

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