NEW YORK, December 28, 2025, 8:33 PM ET — Market closed
- CoreWeave (CRWV) closed down $2.47, or 3.1%, at $76.42 on Friday.
- Weekend reporting renewed focus on “circular” AI deal-making and quoted CEO Michael Intrator on the supply-demand shock behind the buildout. [1]
- Investors head into Monday with U.S. trade and housing data on deck, followed by Federal Reserve minutes on Tuesday.
CoreWeave shares closed down $2.47, or 3.1%, at $76.42 on Friday, their most recent close with U.S. markets shut for the weekend.
The Nvidia-backed AI cloud firm heads into the final trading days of the year with scrutiny returning to how the AI boom is being financed, after weekend reporting highlighted “circular” arrangements linking chip suppliers, model builders and cloud capacity providers. [2]
That debate matters for CoreWeave because the company’s business model depends on financing and filling large amounts of data-center capacity, leaving the stock sensitive to shifts in risk appetite and questions about demand durability.
CoreWeave provides cloud infrastructure purpose-built for AI workloads such as model training and inference, according to its IPO prospectus.
CoreWeave went public on Nasdaq in March at $40 a share, Reuters reported at the time, making it one of the highest-profile listings tied directly to the surge in AI infrastructure spending. [3]
In a report published on Sunday, the Guardian described concerns among some investors about the “circular nature” of certain AI deals, likening them to vendor financing — when a supplier effectively helps fund customers so they can buy the supplier’s products. [4]
CoreWeave Chief Executive Michael Intrator told the Guardian that companies are trying to address a “violent change in supply and demand,” saying firms respond by “working together.” [5]
The report also said Nvidia has pushed back on comparisons, citing a memo that said it does not rely on vendor financing arrangements to grow revenue.
CoreWeave’s customer base includes major AI developers and large technology companies that buy long-term compute capacity, a concentration that has been a recurring focus for investors since the IPO.
Before the next session, investors will watch Monday’s U.S. advance international trade-in-goods report at 8:30 a.m. ET, followed by pending home sales at 10 a.m. and the Dallas Fed manufacturing survey at 10:30 a.m., according to the New York Fed’s calendar.
On Tuesday, the Federal Reserve is scheduled to release minutes from its Dec. 9–10 meeting at 2 p.m. ET, a potential driver for Treasury yields and rate-sensitive growth stocks.
For CoreWeave, the next major company catalyst is quarterly results. Nasdaq lists Feb. 9, 2026 as an estimated earnings date.
Traders will also be watching technical levels from Friday’s session, including support near the day’s low of $75.73 and resistance around $79.34, after the stock opened at $79.03 and faded into the close.
References
1. www.theguardian.com, 2. www.theguardian.com, 3. www.reuters.com, 4. www.theguardian.com, 5. www.theguardian.com
