10 AI Infrastructure Stocks to Watch After CoreWeave’s Earnings

8. Oracle Corporation (NYSE:ORCL)

Upside Potential: 86.90%

Oracle Corporation (NYSE:ORCL) is discussed here due to 86.90% analyst upside, as CoreWeave’s results reinforced demand for the AI computing capacity offered through Oracle Cloud Infrastructure. Shares rose approximately 8.8% on November 11 as confidence returned to the sector.

Oracle Corporation is already translating that demand into revenue. Fiscal first-quarter cloud infrastructure sales increased 121% to $7.4 billion, helping total revenue grow 30% to $19.3 billion. Remaining performance obligations reached $664 billion, although converting those commitments into revenue requires substantial infrastructure investment.

The funding structure therefore matters as much as the backlog. Customer prepayments, customer-supplied hardware, and vendor financing reduce upfront cash requirements. Management expects positive free cash flow in the second half of fiscal 2028. Stephens supported this improving funding outlook on November 2, upgrading Oracle Corporation to Overweight and raising its target to $213 from $185. The company subsequently completed $10 billion each in stock and debt financing, illustrating the remaining cost to shareholders.

At approximately 15.8 times estimated fiscal 2027 adjusted earnings, Oracle Corporation trades below its five-year average forward multiple of roughly 22 times. Our coverage of why Oracle made the list of cheap stocks heading into 2027 examines the funding improvements behind that valuation case. The discount offers potential if contracted demand produces cash on schedule; further construction delays or financing needs would weaken that argument.

7. Micron Technology, Inc. (NASDAQ:MU)

Upside Potential: 89.20%

Micron Technology, Inc. (NASDAQ:MU) is one of the stocks to watch after CoreWeave’s rally with 89.20% analyst upside, as CoreWeave’s growth reinforces demand for the memory and storage required by AI servers. Shares gained 11.9% on November 11 as CoreWeave’s results lifted memory stocks.

Micron Technology, Inc. supplies high-bandwidth memory for AI accelerators, conventional DRAM, and NAND storage. Fiscal fourth-quarter revenue reached $54.23 billion, up from $41.46 billion sequentially, while adjusted earnings increased to $33.42 per share. Management guided the following quarter’s revenue to approximately $61.5 billion.

Supply constraints give Micron Technology, Inc. an opportunity to sustain pricing. Management said more than 75% of fiscal 2027 shipments were already committed. Expanding HBM production also consumes manufacturing capacity that could otherwise produce conventional DRAM, limiting how quickly supply can respond. Needham’s October 1 Buy rating and $1,650 target support this argument, citing persistent shortages and higher pricing in new customer agreements.

Micron Technology, Inc. trades at approximately 4.6 times estimated fiscal 2027 adjusted earnings. Our analysis of why record memory margins still command a low earnings multiple explores the key question: how much of today’s profitability can survive the next downturn? Long-term agreements improve visibility, but they cannot eliminate competition or future supply additions. The valuation becomes compelling if those contracts preserve earnings through a weaker pricing environment, rather than simply extending the current boom.

6. Core Scientific, Inc. (NASDAQ:CORZ)

Upside Potential: 92.20%

Core Scientific, Inc. (NASDAQ:CORZ) is among the stocks to watch after CoreWeave’s rally with 92.20% analyst upside, as stronger CoreWeave demand supports its contracted AI hosting business. Shares rose 11.0% on November 11 as CoreWeave’s results lifted infrastructure stocks.

Core Scientific, Inc. provides powered data-center space rather than selling GPU computing itself. By its November 5 earnings call, it was billing CoreWeave for 485 megawatts, with approximately 100 megawatts undergoing commissioning. Third-quarter colocation revenue increased nearly 60% sequentially to $215.4 million, demonstrating that completed facilities are becoming revenue-producing assets.

Core Scientific, Inc. also has 530 megawatts contracted with AMD, adding another customer as the CoreWeave buildout nears completion. Management says its equity contribution for that initial AMD capacity is already invested, but project financing remains necessary. B. Riley retained a Buy rating on November 9, citing faster CoreWeave execution and lower costs, while reducing its target to $27 from $31.

Our coverage of why Core Scientific appeared among Nasdaq stocks at 52-week lows examines the tension between rising colocation revenue and construction spending. Core Scientific, Inc. trades at approximately 28.4 times forward EBITDA on an enterprise-value basis, leaving meaningful delivery expectations in the valuation. Short interest reached 25.63% of the float as of October 30. Completing contracted capacity and securing affordable financing offer concrete ways to address that skepticism; additional reservations alone do not.

5. Nebius Group N.V. (NASDAQ:NBIS)

Upside Potential: 93.90%

Nebius Group N.V. (NASDAQ:NBIS) joins our list with 93.90% analyst upside, as CoreWeave’s results strengthened confidence in demand for the GPU cloud capacity it also provides. Shares gained 15.4% on November 11, ahead of its own earnings release.

Nebius Group N.V. subsequently reported third-quarter revenue growth of 571% to $980.8 million. However, approximately $325 million came from nonrecurring revenue associated with deploying its architecture and platform on partner-funded infrastructure. That contribution makes headline growth less representative of recurring cloud activity.

Capacity delays prompted Nebius Group N.V. to narrow its 2026 revenue outlook toward the low end of its previous $3.0–$3.4 billion range, while raising planned capital spending to approximately $27 billion. Shares fell 17% on November 12 (as of the time of writing), underscoring investors’ sensitivity to execution.

Nebius Group N.V.’s management preliminary 2027 revenue forecast of $12–$13 billion illustrates the opportunity if deployment improves. Nevertheless, the business is valued at approximately 13.3 times forward sales on an enterprise-value basis. Short interest reached 21.57% of the float as of October 30, reflecting substantial skepticism.

Citi retained a Buy rating with a reduced $265 target on November 4, supporting the demand argument, although that assessment preceded earnings. Our analysis of whether Nebius Group N.V. can turn pricing power into profits examines the central challenge: strong GPU demand supports pricing, but construction costs, financing, and depreciation determine what shareholders ultimately earn.