The stock market closed mixed on Thursday, wrapping up the holiday-shortened week. Oil prices surged above $100 per barrel after President Donald Trump signaled that the conflict could continue for several more weeks, adding to market uncertainty.
Overall, S&P 500 rose 0.1% to 6,583, while NASDAQ was up 0.2% to 21,879.
Tweet of the Day
I need to play this game to sharpen up my Datacenter skills: https://t.co/JVFAmxf6P3
— David Sharek (@GrowthStockGuy) April 2, 2026
Chart of the Day
Here is the one-year chart of CoreWeave (CRWV) as of March 2, 2026, when the stock was at $78.
Last quarter, revenue backlog was $66.8 billion, up 342% year over year, driven by substantial growth from existing and new customers including large deals with AI labs, hyperscaler cloud customers, enterprises, and AI natives.
To support this backlog growth, CoreWeave spent $8.2 billion in capital expenditures (CapEx) last quarter, bringing total 2025 spending to $14.9 billion and expects ~$35 billion of CapEx for full year 2026 as it rapidly builds new AI data centers and deploy GPUs. These investments pressure profitability, with operating margin falling to 6% last quarter, down from 16% a year ago.
Management stated margins declined because infrastructure and depreciation costs start immediately when new capacity comes online, while customer revenue ramps more gradually over time.
CRWV is on the radar for our Growth Portfolio.
