HSBC analyst Abhishek Shukla slapped a Reduce rating and $39 price target on CoreWeave, implying roughly 36% downside from Monday's close, and the stock is down about 5% premarket. The note flags more than $51 billion in debt, borrowing costs approaching 15%, and a return on invested capital running 8.9 points below its cost of borrowing. That's the opposite of Goldman Sachs, which upgraded CRWV to Buy on Monday while cutting its target from $139 to $106.
Reuters reports OpenAI is accelerating a roughly $30 billion round at a valuation north of $1.4 trillion, with SoftBank and Abu Dhabi's MGX in talks, timed to land before Anthropic's expected mid-November listing. Separately, Anthropic said Monday it will commit 5% of its shares to a new Public Benefit Fund, with 2% more added for every 50% rise in company value above a baseline. Neither is publicly traded yet, but an Anthropic listing at the valuations being floated would be the largest IPO on record.
The VanEck Semiconductor ETF is off about 1.0% premarket, with Micron down 2.5% on heavy volume and SK hynix sliding 4.8% in Seoul. The Kospi fell 3.65% after Korean data center firm Elice cratered 32% on its IPO debut despite heavy retail demand — not the signal AI infrastructure bulls wanted. Nasdaq-100 futures are down roughly 0.3% to 0.5%; Dow futures are up about 0.15%.
Both report after the close Wednesday, October 21. Meta consensus is near $63 billion in revenue, up about 23%, with EPS growth up roughly 460% against an easy comparison — but the capex guide is the number that moves the tape. Tesla is expected to show revenue down about 1% and EPS down 14.5%, even after Q3 deliveries of 486,532 beat the roughly 461,000 estimate.
AMD rose 1.76% Monday to $538.05 as the SOX snapped its longest losing streak since 2008, with the index up 1.61% on the day. BNP Paribas, Citi, Stifel, Arete and Mizuho all lifted targets, the high end reaching $960, and TD Cowen reiterated on AI processor demand. The stock still sits about 18% below its 52-week high of $658.52, with fiscal Q3 results due November 3.
Brian Nowak raised his Amazon target to $350 from $335 and named it a top pick, modeling AWS revenue growth of 47% in 2027 and 42% in 2028. Amazon also turned up on the supply side: 3M jumped 5% premarket after announcing an optical connectivity partnership to supply Amazon, alongside an EPS beat of $2.50 versus $2.29 consensus.
Nvidia closed Monday up 1.38% at $217.09 and launched a batch of open-weight models, including Nemotron 3.5 Super VL, a 120-billion-parameter model built for always-on enterprise agents and edge devices. It also reported running a 104-qubit fault-tolerant quantum processor simulation across 8,192 GPUs on Europe's JUPITER exascale system. Separately, cloud startup Modal is reportedly lining up Nvidia's Vera CPUs for agent workloads — a reminder Nvidia's ambitions now extend past the GPU.
Netflix reports after the close, with consensus near $12.87 billion in revenue and roughly 40% earnings growth per LSEG. The scrutiny is on U.S. churn, engagement, and the ads and live-sports push, plus recent job cuts and a content leadership change. It's not an AI name, but it's the first mega-cap read of the week after the Nasdaq's 4.5% drop last week.
Bernstein upgraded Datadog to Outperform and hiked its target to $350 from $237 on AI-driven demand — a 48% target increase. JPMorgan moved Intel off Underweight to Neutral with an $85 target, and Marvell saw targets lifted into the $350 to $450 range by Jefferies, Piper Sandler, BofA, Needham, UBS, Evercore ISI, Craig-Hallum and Oppenheimer. On the other side, Barclays cut NuScale Power to Underweight on commercial delays and execution risk.
Palantir gained 3.22% Monday after announcing a partnership with Knox Systems to help commercial software vendors deploy into accredited U.S. government and defense environments. It's a channel play rather than a revenue event, but it widens the funnel into federal buyers. Micron, meanwhile, closed up 2.97% at $904.93 despite fresh structural worries from China's CXMT memory ramp and cautious Broadcom CEO commentary.
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