Sandisk shares rose 13% on November 11, while CoreWeave surged 20.3%, after the AI cloud provider reported quarterly results that exceeded expectations. CoreWeave posted third-quarter 2026 revenue of $3.66 billion, up 168% year over year, and raised its full-year guidance. Its revenue backlog stood at $132.5 billion as of September 30, compared with approximately $104 billion at the end of the previous quarter. The AI-focused cloud provider now plans to spend $37 billion to $39 billion on infrastructure in 2026, lifting shares of memory suppliers. A multiyear supply agreement with Solidigm also highlights the competition facing SanDisk.
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