Bitcoin Faces $74K Resistance as CoreWeave Fuels AI Recovery and Anthropic IPO Valuation Climbs

CoreWeave’s strong third-quarter performance fueled a rebound in AI infrastructure stocks and lifted Nasdaq futures, while Bitcoin and gold prices remained relatively steady over the past 24 hours.

Shares of CoreWeave (CRWV) climbed 10% in Wednesday’s premarket session after the AI cloud computing provider reported a substantial increase in quarterly revenue, helping restore confidence in the pressured artificial intelligence sector. Meanwhile, Bitcoin (BTC) and gold recorded minimal price changes.

The company reported 168% year-over-year revenue growth for the third quarter and raised its full-year revenue projection to $13 billion–$13.3 billion. Despite the sharp increase in sales, CoreWeave’s net loss expanded to $709 million, or $1.27 per share, mainly because of mounting interest expenses.

The positive reaction spread across the broader AI infrastructure sector. IREN (IREN) shares advanced 6%, Galaxy Digital (GLXY) increased 5%, and Cipher Digital (CIFR) gained 7%. Nasdaq 100 futures also moved higher by more than 1.5%.

In the crypto and commodities markets, Bitcoin traded near $74,000, while gold remained around $4,000 an ounce. Neither asset experienced significant movement during the latest 24-hour period.

Meanwhile, the U.S. Dollar Index maintained its position above 102 following Tuesday’s stronger-than-forecast inflation report. The latest figures strengthened expectations that the Federal Reserve may keep monetary policy restrictive, with markets estimating an 86% chance of a 25-basis-point rate hike on Dec. 9. The probability of a larger 50-basis-point increase was estimated at 14%.

Separately, Anthropic is reportedly considering an initial public offering valuation of $1.5 trillion or more, exceeding the approximately $1.4 trillion figure discussed earlier, according to the Financial Times, which cited individuals familiar with the negotiations.

The AI company could also receive $26 billion in additional funding through a separate private placement involving strategic investors such as Google, Nvidia and Microsoft. The transaction is expected to use the same valuation as the proposed IPO.