TLDR
- CoreWeave’s backlog hit $104.2 billion after strong Q2 results and a raised full-year outlook
- Super Micro forecast fiscal 2027 revenue of $65 billion to $72 billion, well above expectations
- Nebius reported $582 million in quarterly revenue with over $40 billion in customer commitments
- Lumentum revenue more than doubled year over year to $1.01 billion on AI networking demand
- U.S. inflation eased to 3.4% in July, reducing pressure on the Federal Reserve to hike rates
CoreWeave: Backlog Tops $100 Billion
CoreWeave posted second-quarter revenue of $2.58 billion and raised its full-year outlook.
Its backlog climbed to $104.2 billion, up from $99.4 billion the prior quarter. The company also secured more than $25 billion in new customer commitments during the period.
Capital expenditure guidance for 2026 was raised to between $35 billion and $39 billion, reflecting strong ongoing demand for Nvidia-powered AI cloud computing.
Super Micro: $65 Billion Revenue Target
Super Micro Computer issued a bullish outlook for fiscal 2027, forecasting revenue of $65 billion to $72 billion.
The company had already revealed more than $60 billion in new orders during its fiscal fourth quarter. Gross margins also improved from earlier expectations.
The results point to continued strong demand for AI servers as data center operators keep expanding capacity.
Nebius: Rapid AI Cloud Growth
Nebius Group reported quarterly revenue of $582 million and flagged more than $40 billion in additional customer commitments.
The company recently raised $775 million through its first secured debt financing to fund infrastructure expansion.
Nebius is positioning itself as a major challenger in the AI cloud market, though its growth strategy requires heavy capital investment.
Lumentum: Revenue More Than Doubles
Lumentum posted quarterly revenue of $1.01 billion, up 109% year over year.
Adjusted earnings came in at $3.23 per share, ahead of analyst expectations. Management guided for roughly $1.25 billion in revenue at the midpoint for the current quarter.
Demand for high-speed optical networking components, including 1.6-terabit transceivers, is rising as AI data centers need faster connections between large processor clusters.
Inflation Eases, Boosting Growth Stocks
U.S. consumer prices rose just 0.1% in July. Annual inflation eased to 3.4% from 3.5% in June.
Core inflation rose 0.2% for the month and 2.5% year over year. The data reduced expectations for a Federal Reserve rate hike at its September meeting.
The softer inflation reading gave an additional lift to technology and growth stocks on the day.
What This Means for AI Infrastructure
Across all four companies, the common thread is strong and growing demand for AI infrastructure.
CoreWeave, Super Micro, Nebius and Lumentum operate in different parts of the technology stack. But their results all point in the same direction: large-scale spending on AI computing and networking remains strong.
The combination of easing inflation and robust AI earnings helped push the S&P 500 and Nasdaq higher on Wednesday.
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