Super Micro Computer (NASDAQ:SMCI) and CoreWeave (NASDAQ:CRWV) are having a big night on Wall Street, with both AI infrastructure stocks surging after reporting earnings Tuesday. Supermicro stunned the market with guidance far above expectations, while CoreWeave delivered another strong quarter and showed that customers are still lining up for its AI computing capacity.
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CWVX: an alternative to margin or options on CRWVSupermicro shares are up nearly 10% in after-hours trading after the AI server maker finished fiscal 2026 with largely in-line quarterly results but offered investors a much stronger outlook. Fiscal fourth-quarter revenue nearly doubled from a year earlier to $11.12 billion, coming slightly below the $11.26 billion analysts expected. Adjusted earnings reached $1.70 per share, beating Wall Street’s $1.59 consensus estimate.
The real excitement, however, came from what Supermicro expects during the current quarter. Management forecasts adjusted earnings between $1.01 and $1.10 per share, topping the $0.72 analysts had penciled in. Revenue is expected between $14.5 billion and $15.5 billion, well above Wall Street’s $11.82 billion estimate. Supermicro said it generated more than $60 billion in new orders during fiscal 2026 and entered the new fiscal year with record backlog.
Wall Street, meanwhile, is still keeping SMCI at arm’s length. 8 of the 12 analysts covering the stock are staying on the sidelines, versus 3 bulls and one bear, leaving SMCI with a Hold (i.e. Neutral) consensus rating. The $38.40 average price target is more upbeat, implying about 21.5% upside from Tuesday’s closing price. (See SMCI stock forecast)
CoreWeave is getting an even warmer reception, with CRWV shares jumping about 12% in extended trading. The AI cloud provider generated second-quarter revenue of $2.58 billion, nearly twice its year-ago total and slightly above Wall Street’s $2.56 billion estimate. CoreWeave posted an adjusted loss of $1.14 per share, which was narrower than the $1.21 loss analysts had expected.
CoreWeave gave investors another reason to like the report through its massive backlog. Revenue backlog stood at ~$104 billion when the quarter ended, providing a substantial amount of contracted business as CoreWeave continues expanding its AI computing infrastructure. CEO Michael Intrator said customer demand continues to accelerate as enterprise adoption broadens and the company expands its technology platform.
Wall Street sees plenty more potential in CRWV after Tuesday night’s rally. Among 18 analysts covering the stock, 13 recommend Buy, 4 rate it Hold, and only one recommends Sell, resulting in a Moderate Buy consensus rating. The $128.94 average price target implies about 43% upside from Tuesday’s closing price. (See CRWV stock forecast)
