Nvidia Edges Lower; CoreWeave Tumbles; Paramount Skydance Rallies

On this episode of Stock Movers:
- Shares of Nvidia (NVDA) slipped in the premarket session after SoftBank Group sold the entirety of its stake of the chipmaking giant for $5.83 billion to help bankroll AI investments, even as investors question the amount of capital pouring into a technology with uncertain returns. The Nvidia stake sale highlights how founder Masayoshi Son needs money to chase a plethora of projects that range from Stargate data centers to AI robot manufacturing sites in the US. Its exit coincides with a growing debate about whether spending by big tech firms from Meta Platforms Inc. to Alphabet Inc. — expected to surpass $1 trillion in coming years — will produce commensurate returns.
- CoreWeave (CRWV) shares tumbled ahead of the US market open after the cloud-computing provider reported its third-quarter results and said a data center delay would impact fourth-quarter expectations, prompting JPMorgan to downgrade the stock. Analysts note that the supply constraints are short term but highlight execution risks.
- Paramount Skydance (PSKY) shares soared in early trading after reporting financial results for the first time since a new investor group took over the media company in August. The media giant raised its target for job cuts and cost-saving measures. Paramount Skydance, which has been trying to buy rival Warner Bros. Discovery Inc., said in a letter to shareholders it plans an additional 1,600-person workforce reduction and a goal to achieve at least $3 billion in cost savings.

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