CoreWeave gained 5.7% and Nebius Group rose 2.3% on 26 October, reversing earlier losses after Anthropic made its proposed US IPO filing public, Reuters reported. The filing gave investors a new set of figures for the developer of the Claude chatbot as they assessed spending across AI software, chips and computing infrastructure.
Key points
- CoreWeave and Nebius ended an earlier decline during 26 October trading, rising 5.7% and 2.3%, respectively.
- Nvidia added nearly 3%, while the Philadelphia Semiconductor Index gained over 3%.
- Anthropic’s filing put revenue growth alongside a substantial loss and long-term cloud computing commitments.
- Investors were also weighing the borrowing costs and returns associated with AI infrastructure expansion.
CoreWeave reverses its 26 October decline
Earlier on 26 October, CoreWeave was down 2% and Nebius had fallen 4.8% after Elon Musk warned in a post on X about financing for companies dependent on AI data centres, Reuters reported. Its account placed those moves at an earlier point in the session than the gains reported after Anthropic’s filing.
Another account put CoreWeave down 1.7% and Nebius down 3.7%, Beinsure, an insurance and investment news site, reported. Both companies are neocloud providers: they build computing infrastructure for AI workloads and rent processing capacity to customers.
The change in direction extended beyond those two shares. Applied Digital rose 1% and IREN gained 3%, while Microsoft and Amazon each added nearly 1%. Reuters reported that investors had been questioning whether debt-funded infrastructure spending could be justified as borrowing costs rose.
In overnight trading ahead of 27 October, CoreWeave and Nebius were each up about 0.5%, Stocktwits reported. Those moves followed the gains in the regular session rather than replacing the earlier figures from 26 October.
Anthropic filing sets out growth and commitments
Anthropic submitted a registration statement for its proposed public offering on 26 October, Beinsure reported. It put revenue for the six months ended June 2026 at $16.29 billion, up 1,304% from $1.16 billion in the corresponding period a year earlier. AI Affairs previously reported on Anthropic’s filing and its $80.7 billion loss.
The company reported an $80.7 billion net loss, largely driven by a $72.4 billion accounting charge related to convertible notes, according to Stocktwits. Revenue growth and the loss sit alongside the spending Anthropic has undertaken to secure computing capacity for its products.
Anthropic plans to spend $450 billion under cloud computing agreements over the next seven to ten years, The Wall Street Journal reported. The commitments include planned spending of $111 billion on Google cloud services, $110 billion with Amazon Web Services and $31 billion with Microsoft, according to the same report.
Anthropic plans to spend up to $86 billion renting Nvidia chips from Nscale and Lambda, under arrangements running through 2033 and 2034 respectively, The Wall Street Journal reported. The commitments place cloud and infrastructure suppliers on the other side of Anthropic’s spending plans as investors assess the company’s proposed listing.
Nvidia and chip index join the gains
Nvidia shares added nearly 3% on 26 October. Micron rose 3%, AMD gained 2.5% and Broadcom advanced 3%, while the Philadelphia Semiconductor Index was up over 3%. The gains followed an earlier stretch of weakness in chip shares: AI Affairs reported an eight-day decline in the index.
Beinsure reported that Apollo chief economist Torsten Slok questioned the financial returns from AI spending outside the technology sector. He said revenue per employee and profit margins had risen among the Magnificent Seven technology companies but remained broadly flat across the rest of the S&P 500.
