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10 AI Infrastructure Stocks to Watch After CoreWeave’s Earnings

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Why Are AI Infrastructure Stocks Under Pressure?

AI infrastructure stocks have faced considerable selling pressure in recent weeks, as concerns over data center expansion, rising borrowing costs, and regulatory uncertainty have weighed on investor sentiment. According to Bloomberg, hedge funds sold global technology shares during the week ending November 6 at a pace approaching the highest recorded in Goldman Sachs’ data since 2016.

Much of the uncertainty stems from the U.S. midterm elections, which raised concerns about potential restrictions on data center construction. Reuters reported on November 5 that the Nasdaq Composite plunged 5.5%, while UBS analysts estimated that nearly 30% of anticipated U.S. data center capacity additions in 2028 could be at risk from potential construction pauses. The selloff also prompted Wall Street to reassess opportunities across the technology sector, as discussed in our recent coverage of 10 Stocks Analysts Just Upgraded.

CoreWeave’s Rally Offers Relief, but Concerns Remain

Against this backdrop, the prominent AI cloud infrastructure provider offered some relief following its latest earnings announcement. On November 11, the company raised its annual revenue forecast and eased financing concerns by indicating that cash flows from existing contracts would cover its debt repayments. The developments also lifted other major AI infrastructure stocks.

However, the recovery proved short-lived as a leadership crisis at a major AI chipmaker introduced fresh uncertainty across the sector. On November 12, shares of the cloud infrastructure provider fell 9.1% after gaining more than 27% in the previous session, while the chipmaker declined 8.2% following its CEO’s resignation amid an ongoing scandal.

Beyond these market swings, financing remains a concern. Reuters reported on November 12 that approximately 70% of record U.S. convertible bond issuance in 2026 was AI-linked, highlighting the industry’s reliance on capital markets. Meanwhile, the selloff has renewed scrutiny of elevated technology valuations, a concern explored in our recent analysis of 10 High P/E Stocks Under the 200-Day SMA.

With that in mind, we examine 10 AI infrastructure stocks to watch, as investors reassess growth prospects, financing risks, and valuations.

Our Methodology

To compile our list of the 10 AI infrastructure stocks to watch after CoreWeave’s earnings, we reviewed financial-media coverage identifying companies that could benefit from CoreWeave’s growth or broader AI infrastructure spending following its latest results.

We required each stock to be supported by at least two distinct media publishers, counting syndicated copies of the same article only once. Our selection includes direct commercial partners and companies benefiting from broader demand for AI computing, servers, chips, and storage.

From this pool, we selected the 10 stocks with the highest upside potential based on analysts’ median price targets and ranked them in ascending order of that potential.

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10. NVIDIA Corporation (NASDAQ:NVDA)

Upside Potential: 72.70%

NVIDIA Corporation (NASDAQ:NVDA) makes our list with 72.70% analyst upside, as CoreWeave’s expansion drives demand for its GPUs, networking, and AI systems. Shares gained 2.92% on November 11 as CoreWeave’s results helped restore confidence in AI infrastructure spending.

NVIDIA Corporation has a direct commercial connection: CoreWeave is deploying its Vera Rubin platform. Fiscal second-quarter data-center revenue increased 117% to $89 billion, while total revenue reached $96.2 billion. However, rising memory costs are pressuring margins, showing how strong demand can benefit component suppliers while squeezing system providers.

At approximately 18.6 times estimated fiscal 2027 adjusted earnings, NVIDIA Corporation offers substantial growth at a lower multiple than its recent history. That discount also reflects risks beyond chip demand. Our coverage of why analysts have become more cautious about NVIDIA’s financing commitments examines its exposure to companies building infrastructure around its products.

NVIDIA Corporation announced on November 12 that Jensen Huang had resigned and CFO Colette Kress would serve as interim CEO. This introduces leadership uncertainty immediately after the sector’s rally. On the same day, before the leadership announcement, RBC retained an Outperform rating that day but reduced its target to $230 from $330, arguing that near-term fundamentals remained supported by demand and an established product roadmap. The investment case depends on maintaining execution through the transition while ensuring customer financing produces sustainable demand.

9. Marvell Technology, Inc. (NASDAQ:MRVL)

Upside Potential: 79.50%

Marvell Technology, Inc. (NASDAQ:MRVL) ranks in this list with 79.50% analyst upside, as CoreWeave’s growth reinforces demand for custom AI chips and networking components connecting large computing clusters. Shares gained 9.33% on November 11 during the CoreWeave-led rebound.

Marvell Technology, Inc. generated $2.17 billion in fiscal second-quarter data-center revenue, up 46% year-over-year. Increasing cluster sizes require faster connections within and between facilities, supporting its optical interconnect and switching businesses. Management subsequently raised its fiscal 2028 revenue outlook to approximately $20 billion.

The proposed Lumentum acquisition would broaden that opportunity by combining electronic and optical technologies. Marvell Technology, Inc. announced the all-stock agreement at an implied enterprise value of $115 billion. The strategic fit is credible, but regulatory approval, integration, and potential customer conflicts complicate the payoff. Morgan Stanley highlighted those trade-offs on November 3, noting the benefits of jointly designing lasers and electronics while retaining an Equal Weight rating.

Marvell Technology, Inc. trades at approximately 40 times estimated fiscal 2027 adjusted earnings, falling to roughly 23 times fiscal 2028 estimates. Our analysis of whether its $20 billion revenue target justifies the valuation premium explains why growth must arrive on schedule. The lower future multiple depends on a substantial earnings increase; it does not make the shares inexpensive today. Investors should watch custom-chip production ramps and optical demand alongside the acquisition’s progress.

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