Stock Market Today, Nov. 13: CoreWeave Falls Over 6% on AI-Cloud Selling and Reported $4 Billion Loan Talks
CoreWeave (NASDAQ:CRWV), a specialized cloud computing provider for generative AI workloads, also known as a neocloud, closed at $53.13, down 6.13%. Premarket AI-cloud selling and debt-funding concerns outweighed the company's strong revenue growth, and investors are watching guidance and financing needs next.
Trading volume reached 77.6 million shares, coming in about 72% above its three-month average of 45.1 million shares. CoreWeave IPO'd in 2025 and has grown 33% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) fell 0.40% to 7,562, while the Nasdaq Composite (NASDAQINDEX:^IXIC) declined 0.91% to 25,136. In AI cloud infrastructure and data center services, Nebius Group closed at $115.88, down 9.92%, and IREN finished at $18.17, down 6.72%, reflecting pressure on AI-cloud peers after Nvidia-related turmoil and capital-spending concerns.
What this means for investors
On Friday, Nov. 13, CoreWeave extended yesterday's declines in the wake of Nvidia CEO Jensen Huang's resignation on Nov. 12. Nvidia was a major financial backer, shareholder, and strategic partner to the neocloud provider, and Huang's departure left uncertainty around how the semiconductor chip giant's relationship with CoreWeave could change.
Reports that CoreWeave was pursuing at least $4 billion in loans to expand its AI infrastructure also weighed on the stock. Against a macroeconomic backdrop of rising interest rates, the neocloud's decision to add to its debt burden raised fresh concerns on Wall Street, and justifiably so. The company exited the third quarter with over $40 billion in debt.
Earlier this week, CoreWeave's Q3 results showed revenue up a whopping 168% to $3.7 billion, and it raised 2026 revenue guidance to a range between $13.0 billion and $13.3 billion, more than double the $5 billion produced in 2025. That update impressed Wall Street initially, as it supported the artificial intelligence demand story.
However, the shares later reversed amid concerns that CoreWeave's debt burden was getting too high, keeping leverage and buildout risk central to the investor debate.
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Robert Izquierdo has positions in CoreWeave, Iren, and Nvidia. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.
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