Tech stocks today: CoreWeave and Supermicro to report results, Intel to upsizes stock sale

Tech stocks were mixed Tuesday, as investors prepare for results from AI infrastructure companies CoreWeave ( CRWV ) and Supermicro ( SMCI ) after the bell.

CoreWeave has dropped roughly 30% since its last earnings report in May over concerns about revenue growth and its spending plans. For the current quarter, analysts are anticipating an adjusted loss per share of -$1.18 and revenue of $2.5 billion.

CoreWeave is spending billions building out AI data centers packed full of high-powered chips which it then rents out to customers including Meta ( META ) and Anthropic ( ANTH.PVT ).

Supermicro, meanwhile, already provided investors with a preliminary look at its results, saying that it anticipates better than projected margins and that it booked $60 billion in new orders in the quarter.

The company's stock is up more than 9% year-to-date, but down about 29% from its one-year highs.

Also on Tuesday, Intel ( INTC ), said it upsized its share sale from $15 billion in common stock to $20 billion due to massive demand. Intel says it will use the proceeds from the sale to finance capital expenditures as it seeks to build out its manufacturing footprint among other things.