What Sent CoreWeave Stock Lower?

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CoreWeave (CRWV) stock fell 6.9% on Thursday, November 12, 2026, while the S&P 500 slipped 0.3%. If you own it, the fall came right after a big gain: a day earlier the shares jumped 24.7% on the company’s third-quarter results. On November 12, CoreWeave filed its quarterly report with the SEC, and Nvidia fell 4.3% as its leadership crisis sank AI stocks. So did the selloff in AI stocks pull CoreWeave down, or did something change in its own business?

CoreWeave Fell With Stocks Tied To Nvidia

Shares of companies tied to Nvidia dropped on November 12, and CoreWeave stock was among them. Nvidia shares tumbled that day over a leadership crisis. Several analysts also downgraded Nvidia the same day, after Jensen Huang’s exit.

CoreWeave’s customers pay for computing on its AI cloud platform, and management said on the November 10 call that customers are consolidating more of their AI spending with CoreWeave.

CoreWeave released its latest figures two days before the stock fell. Third-quarter revenue was $3.7 billion, up 168% from a year earlier and above the high end of the company’s guidance. Management also raised its full-year 2026 revenue guidance to $13 billion to $13.3 billion. The 10-Q filed on November 12 was the company’s only filing that day.

Did CoreWeave Fall With Other Software Stocks?

No, CoreWeave fell much further. Its systems software sub-industry slipped 0.3% at the median across 28 other companies of $2 billion or more. Of those, 18 fell, but only two fell 5% or more. XLK, the SPDR fund for its sector, also lost 0.3%.

Nvidia was the only one of CoreWeave’s five peers to fall sharply. Oracle fell 1.0%, while Amazon, Microsoft and Alphabet rose. CoreWeave’s fall was much closer to Nvidia’s than to the software group’s.

Where Does CoreWeave Stock Stand Now?

Falls this large are common for CoreWeave: the stock had 27 of them in the prior 365 days. The latest move at least as large in either direction was the jump on November 11.

Over the past 12 months, the stock lost 36.0% while the S&P 500 returned 12.2%. The $56.60 close sits far below its 52-week closing high of $137.98, reached on May 6, 2026. The stock lost 46.2% over the past three months alone, and it hit its 52-week closing low of $43.66 on November 5, 2026.

CoreWeave trades at 4.1 times its sales over the twelve months to June 30, 2026, against 3.2 for the S&P 500. That period leaves out the third quarter the company reported on November 10.

CoreWeave is expected to report its fourth-quarter results in February 2027. Its revenue backlog, about $133 billion at the end of the third quarter, is the figure to watch.

Does This Mean You Should Act On CRWV?

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