CoreWeave earnings bring good news for AI trade

CoreWeave (CRWV) shares are extended gains in after-hours trading on Nov. 10 after the artificial intelligence (AI) infrastructure provider posted a better-than-expected 168% increase in Q3 revenue to $3.66 billion. Management also raised its full-year guidance to at least $ 13 billion, while revealing a backlog of about $132.5 billion, reinforcing investor confidence that demand for AI compute remains far from saturated.