CoreWeave Inc shares rose 4.58% to $105.50 in premarket trading on Thursday, driven by a blowout earnings report from Micron Technology. Micron’s strong performance has fueled renewed investor confidence across the artificial intelligence infrastructure sector, providing a positive tailwind for CoreWeave as the broader market reacts to sustained AI expansion.

Micron Technology posted revenue of $41.46 billion for the third quarter of fiscal 2026, beating analyst estimates of $35.59 billion and marking a 346% increase year-over-year. Adjusted earnings reached $25.11 per share, outperforming the projected $20.63 per share. The semiconductor company generated $25.39 billion in operating cash flow and $18.3 billion in adjusted free cash flow, while capital expenditures totaled $7.1 billion.

Looking ahead, Micron raised its fourth-quarter revenue guidance to $50 billion, plus or minus $1 billion, significantly above Wall Street expectations of $42.95 billion. The company also projects fourth-quarter adjusted earnings of $31 per share, plus or minus $1, beating estimates of $25.50. Micron’s board declared a quarterly dividend of 15 cents per share, payable on July 21 to shareholders of record as of July 6. Micron shares rose 8.39% in after-hours trading to $1,135.80.

Micron Q3 Performance

CRWV Technical Levels

From a trend perspective, CoreWeave is still trying to stabilize after a choppy stretch. The stock is trading 1.3% below its 20-day SMA ($107.58) and 4.9% below its 50-day SMA ($111.65), which keeps near-term overhead supply in play. At the same time, the stock remains 7.5% above its 100-day SMA ($98.77) and 5.5% above its 200-day SMA ($100.65), suggesting the longer-term base is still holding.

Momentum is improving on the MACD, as it is above its signal line and the histogram is positive. However, the 20-day SMA remains below the 50-day SMA, a bearish alignment that bulls generally want to see reversed. Key levels are defined by the stock’s $63.80 to $183.98 52-week range. Key resistance is identified at $125.00, while key support stands at $103.00.

CoreWeave Business Model

CoreWeave is a modern cloud infrastructure company that offers Nvidia GPUs and other essential AI hardware with optimized efficiency to handle demanding AI training and inference workloads. Its cloud platform supports the development and use of foundational large language models and the delivery of next-generation AI applications. This positions the company within the "picks-and-shovels" buildout for AI, where access to high-performance compute is critical for model training and deployment.

CoreWeave, Inc. has expanded its European footprint through a co-location agreement with Conapto, a provider of scalable and sustainable data centers. The partnership establishes AI cloud infrastructure across two campuses in Stockholm, with initial capacity already operational at Stockholm 4 South. Both campuses will be powered entirely by renewable energy sources, providing high-performance compute, networking, and storage designed for modern AI workloads.

The Stockholm deployment leverages NVIDIA Blackwell Architecture and NVIDIA Vera Rubin Platforms connected with NVIDIA Quantum-X800 InfiniBand. This infrastructure aims to support AI labs, enterprises, and developers across Europe as demand for scalable AI production accelerates. The agreement brings CoreWeave’s total number of European sites to eight.

Strategic Expansion and Sustainability

Sachin Jain, chief operating officer of CoreWeave, highlighted the strategic importance of the Swedish market. "Sweden has been central to CoreWeave’s European strategy since our first continental investment," Jain stated. He noted that Conapto’s local expertise and sustainable energy profile enable the delivery of urgent high-performance AI compute with the reliability and environmental credentials required by enterprise deployments.

Håkan Björklund, CEO of Conapto, emphasized the alignment of advanced infrastructure with sustainability goals. "Combined with our commitment to 100 percent renewable energy and heat recovery to Stockholm's district heating network, this partnership demonstrates how advanced AI infrastructure and sustainability can go hand in hand," Björklund said.

Global Infrastructure Metrics

As of March 31, 2026, CoreWeave operates a significant global network to support AI workloads at scale. The company reports the following operational metrics:

CoreWeave and Conapto are scheduled to participate at the Tech Arena at Almedalen on 25 June to discuss Sweden’s role in AI infrastructure and Europe’s evolving capacity requirements.