Nasdaq 100 Futures Rise 465.25 Points as CoreWeave Results Provide Support
Key Facts
Nasdaq 100 futures rose 465.25 points, or 1.67%, at 5:04 a.m. Eastern Time on November 11, supported by CoreWeave’s results and its forecast to achieve adjusted profitability in the first half of 2028. The company’s shares jumped more than 10% before the market open after it said it expected to reach adjusted profitability in that period. A later reading at 5:36 a.m. showed futures up 471 points, or 1.7%, while S&P 500 futures gained 56 points, or 0.7%. Vital Knowledge analysts said technology shares were seeing a strong rebound that morning, “largely thanks to CoreWeave.” U.S. stocks remained open on Veterans Day, while the U.S. bond market was closed.
CoreWeave raised its fiscal 2026 revenue forecast to a range of $13.0–13.3 billion and increased its estimate for adjusted operating income to $1.275–1.375 billion. The company reported third-quarter revenue of $3,661 million, compared with $1,365 million in the same period of 2025. The company said revenue increased by more than $1 billion from the previous quarter and that its adjusted operating income margin reached double digits one quarter ahead of schedule. The balance of contracted revenue that the company expects to recognize in the future was about $132.5 billion as of September 30, 2026. These figures reflect the expansion of its computing infrastructure business, which is tied to demand from artificial intelligence companies.
CoreWeave said it added more than 200 megawatts of active capacity during the third quarter, bringing the total to more than 1.7 gigawatts, while contracted capacity exceeded 4.6 gigawatts. The company raised the lower end of its 2026 capital expenditure forecast to $37 billion, while keeping the upper end at $39 billion. It attributed the increase to plans to deploy infrastructure and deliver it to customers earlier than planned. The company said the spending reflects its expectation to “deploy infrastructure and deliver it to customers earlier than planned.” The plans highlight the operational expansion accompanying higher financial forecasts, as well as the scale of investment needed to meet demand.
The futures gains followed a declining session on November 10, when the Nasdaq Composite lost 187.26 points, or 0.7%, to close at 25,065.87. The Associated Press said U.S. stock indexes fell after a report showed inflation exceeded economists’ expectations. The 10-year Treasury yield rose to 4.99% from 4.88% late Monday, as the bond market pressured stocks following the price data. AP said inflation could prompt the Federal Reserve to raise its benchmark interest rate at its next meeting in December. In Asia, Taiwan’s Taiex rose 3.6% and TSMC shares gained 3.1% on November 11, after the company reported October revenue that was nearly six times its level a year earlier.
CoreWeave shares closed at $48.73 on November 10, before jumping in premarket trading the following day. Markets are awaiting the Federal Reserve’s release of the minutes from its October 27–28 meeting on November 18, followed by the Beige Book on November 25. The company’s results supported technology shares as inflation concerns and the interest rate outlook continued to affect stock valuations. The increase in capital spending and expectations for early infrastructure delivery also put the company’s ability to execute its expansion plans under investors’ scrutiny. Futures readings remain tied to trading time, as sources recorded figures at different times on the morning of November 11.