Oracle Jumps 7.2% After CoreWeave Results, Expects $9 Billion in Customer Payments
Key Facts
Oracle shares rose 7.2% in trading on November 11, as AI infrastructure stocks rallied after strong quarterly results from CoreWeave. The results showed rapid revenue growth, while the company said it expects to receive about $9 billion in customer prepayments and deposits over the next three months. Reuters also reported that CoreWeave would not tap the unsecured debt markets after borrowing costs rose. The company said cash flows from existing contracts would cover current and future debt payments. Those signals eased investor concerns about financing the expansion of data centers and AI-related computing.
CoreWeave revenue for the three months ended September 30 totaled $3.661 billion, compared with $1.365 billion in the same period of 2025. The company described year-over-year revenue growth as 168% in its results summary. The broader revenue base reflects rising demand for the cloud computing services it provides. Its remaining performance obligations totaled about $132.5 billion as of September 30. That figure indicates the scale of revenue tied to its contracts as the company seeks to expand operating capacity to meet demand.
But revenue growth came alongside a widening net loss, to $709 million in the third quarter from $110 million in the same period a year earlier. At the same time, CoreWeave raised its 2026 revenue forecast to a range of $13.0 billion to $13.3 billion. The company said it expects capital spending of between $37 billion and $39 billion during the year. It linked the spending to its expectation that it would deploy infrastructure and deliver it to customers ahead of schedule. The figures set rising revenue and demand against the high cost of expansion, as the company turns to customer payments and contract cash flows to meet its financing needs.
Pre-market gains extended to other companies in the AI infrastructure sector, with Nebius, Iren, Oracle and Applied Digital shares rising between 4.7% and 11.8% in trading on November 11. The head of portfolio management at Telos Wealth Advisors said CoreWeave's results "directly addressed the fear that drove the entire selloff." He added that the company had eased the core concern over financing AI investments. The shares of the companies mentioned, except Nebius, had lost between 32% and 48% from the start of the year through the close on November 10. That earlier decline puts the session's gains in the context of a recovery from prolonged pressure on the sector, rather than apart from financing and spending concerns.
CoreWeave's expansion plan remains in focus despite its assurance that it will not rely on unsecured debt markets. Its chief executive told Reuters that regulatory scrutiny was not expected to change expansion plans or raise costs, and that planned power additions over the next year would not be affected. Bernstein analysts, meanwhile, warned that CoreWeave could be among the first and hardest-hit companies when the shortage of AI computing capacity eases. Nebius is scheduled to report results before trading begins on Thursday, providing a near-term checkpoint for the sector. Oracle said on October 28 that it expected additional AI funding to be no more than $20 billion through fiscal 2030, and that free cash flow could turn positive in the second half of fiscal 2028 and exceed $30 billion in fiscal 2029. It added then that it expected to stop relying on external funding for growth starting in fiscal 2029, as net debt declined to less than 3.5 times annual core earnings.