After markets closed on Monday, CoreWeave (CRWV) posted third-quarter results. It lost $0.22 a share on revenue of $1.36 billion (+132.9% Y/Y).
The supplier of AI infrastructure faces serious cash flow burn rates. It excluded much of the GPU depreciation in its financial reporting. Furthermore, its debt doubled to $14 billion. Capital expenditures increased by 160% while interest expenses are now $1.2 billion a year.
Be wary of CRWV stock. Instead, investors may consider Nebius (NBIS).
Paramount Skydance (PSKY) posted $6.7 billion in total revenue. Although its TV media revenue fell by 12%, net income was $80 million.
In the AI software sector, Palantir (PLTR) roared ahead on no major news. Shares gained 8.81% on Monday, to get back around half of the stock price’s recent drop.
Albemarle (ALB) continued its half-year-long rebound. The lithium miner is approaching its 52-week high. On Nov. 6, the firm posted an adjusted EBITDA increase of 7%, or $226 million. It offset lithium price declines by finding cost and efficiency improvements.
In the storage sector, Western Digital (WDC) gained 6.91% to close at a new yearly high of $174.22. Loop Capital upgraded the stock, along with Seagate Technologies (STX). AI generates excessive data storage requirements. This is increasing demand for WDC and Seagate storage products.
