AI infrastructure providers jump after CoreWeave Q2 results, capex forecast

Shares of AI infrastructure providers rose after CoreWeave CRWV.O lifted its annual capital spending forecast and posted upbeat Q2 results.

• CRWV shares soared 17.4% to $106.07 premarket, while those of Nebius Group NBIS.O rose 9.3% to $211.10.
• Shares of data center operators IREN IREN.O jumped 5.8% to $42.06 and Applied Digital APLD.O rose 6.3% to $31.55 before the bell.
• CoreWeave CEO Michael Intrator said on the company's post-earnings call that the company is securing compute agreements on "increasingly favorable terms".
• "Demand was a highlight of the quarter, but pricing has captured the market’s attention as of late" - MoffettNathanson.