AMD Rises 7.28% as CoreWeave Raises 2026 Capex Floor
Key Facts
AMD shares rose 7.28% on November 11, 2026, according to the figure shown on Investing.com’s page at the time it was updated, after gaining 6.4% in morning trading. The move came in a session when specialist cloud computing stocks climbed following CoreWeave’s results, according to Reuters coverage. The company raised the floor of its annual capital expenditure forecast and said infrastructure delivery to customers was expected earlier than planned. Its results and guidance signaled continued investment in computing infrastructure, a supportive backdrop for chip stocks. But CoreWeave’s revision concerns its own plans and revenue and does not, by itself, represent confirmed demand for AMD products alone.
CoreWeave’s third-quarter revenue reached $3.7 billion, up 168% year over year and $1 billion from the previous quarter. Its revenue backlog also reached $132.5 billion, up 138% from a year earlier. The company raised its fiscal 2026 revenue guidance to a range of $13.0 billion to $13.3 billion, according to coverage published on November 11. Capital expenditure is now expected to range from $37 billion to $39 billion, compared with the previous range of $35 billion to $39 billion. The company said it raised the floor because it expected to deliver infrastructure to customers ahead of schedule, while leaving the ceiling unchanged.
Across the processor market, Investing.com cited a UBS note saying server processor shipments rose about 6% in the third quarter from the previous quarter and 31% from the same period a year earlier. The quarterly growth exceeded the usual seasonal increase of 3%, according to UBS’s estimate. AMD’s share of server processor units remained roughly stable at 28.4%, the note said. By contrast, Arm’s share rose to 20.1%, an increase of 250 basis points, while Intel’s share fell to 51.5%, a decline of 240 basis points. The figures put shipment growth in the context of shifting supplier shares, with AMD’s share stable over the period covered by the report.
UBS said unconstrained demand for central processing units could support a market worth more than $500 billion by 2030. However, the addressable market is closer to $210 billion by that year if memory supply constrains market growth, according to the note. The estimate sets expanding processor demand against a constraint tied to the availability of another component in the data center ecosystem. UBS also cut its forecast for global PC shipments in 2027 to a 4% contraction, from a previous forecast of 2% growth. The note attributed the change to the possibility that higher memory prices, followed by higher processor prices, could weigh on PC demand.
In comments reported by Reuters, CoreWeave said it expected to reach profitability in 2028. The company said it would not turn to unsecured debt markets and that cash flows from existing contracts would cover repayment of its current and future debt. CoreWeave shares jumped 10% on November 11, while Nvidia shares rose 5%, as specialist cloud computing stocks climbed after the results. In the broader market, the S&P 500 rose 1.31% and the Nasdaq Composite gained 1.60% in the same session, according to Reuters via MarketScreener. CoreWeave said it expected to become profitable in 2028, while Reuters coverage linked the sector’s gains to the company’s results and outlook.