CoreWeave provides silver lining for neoclouds as Nvidia storm swirls

This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Hello, this is Leonie Kidd with today's edition of Morning Squawk. CoreWeave is providing the tailwind for futures today, helping lift neocloud stocks, while a rebound for Nvidia is also supporting the chip space. But is it enough to dull the lingering doubts around the AI trade?Happening now: Silver liningsCoreWeave shares are surging in premarket trading, up over 16% overnight, after the neocloud group posted a 168% spike in third-quarter revenue. The group also lifted its 2026 guidance, driving other neocloud stocks higher. But bear in mind that shares are down 65% from their May highs, losing over 40% of their value in the last month alone. Analysis: Zack's Chief Equity Strategist John Blank told CNBC early Wednesday that the shares are "so beaten up that you have to believe there is more value." "Inflection point": Freedom Capital Markets' Paul Meeks said he is steadfastly bullish on CoreWeave, saying improving margins signal the turning point is here. Coming up: "Squawk on the Street" will speak with CEO Michael Intrator. Catch that interview, First on CNBC.Jonathan Raa | Nurphoto | Getty ImagesBig Movers: Spy scandalNvidia shares are extending gains in premarket trading, up just over 3%. The move is also supporting gains for Broadcom, AMD, Intel and Nebius. Here are the key developments: Nvidia's board has hired law firm Wachtell Lipton Rosen & Katz to investigate CEO Jensen Huang and whether company secrets have been compromised. Sen. Charles Schumer has accused President Donald Trump of defending Huang at the expense of U.S. national security, citing press reports that Trump was briefed in full on the spy allegations more than a year ago. CNBC's Seema Mody spoke to sources within Nvidia who said Huang walked into the group's Santa Clara, California, headquarters on Monday to hold his regular meeting with top-level executives. To go inside that meeting, read the full piece here on CNBC.com. Nvidia CEO Jensen Huang speaking at a Microsoft Windows event on Oct. 7th, 2026 in San Francisco.Source: MicrosoftIPO: Anthropic anticipationAnthropic is offering 825 million shares at a price range of $70-78 per share. Sources close to the deal told CNBC the AI titan is planning to price on November 18 and trade on November 19. Words matter: In the IPO filing, Anthropic uses the word "adverse" 257 times. Private markets: CNBC's Kate Rooney will be reporting on how this is the first chance for individual investors to buy into a company whose growth has largely benefited private-market players. Tuesday's amended filing says retail investors could receive roughly 20% of the offering through platforms including Robinhood, Schwab, Fidelity, SoFi and E*TRADE. Cramer's view: Jim Cramer says Anthropic's stunning revenue growth helps justify the $1 trillion-plus valuation, and just the fact that the IPO is going ahead is "bullish for tech and the AI trade."Anthropic logo and stock graphs in this illustration taken on Oct. 26, 2026. Dado Ruvic | ReutersGet Morning Squawk directly in your inboxPolitics: Impeachment pushbackThe House of Representatives has effectively voted down an attempt to impeach Defense Secretary Pete Hegseth. The House, by a 211-204 margin, approved a measure that will refer the impeachment resolution to a committee, leaving little time for it to be acted on before Democrats take over in January. Security concerns: There are questions over the next steps in the war with Iran, amid reports that Treasury Secretary Scott Bessent moved from his Washington, D.C. home to a military base due to Iranian threats on his life. Frozen conflict: An American soldier has been arrested on suspicion of spying for Russia, according to London's Metropolitan police.U.S. Defense Secretary Pete Hegseth gestures as he speaks during a news conference at the Pentagon on November 10, 2026 in Arlington, Virginia. U.S.Chip Somodevilla | Getty ImagesAnd Finally...Tokenization: The next evolution of the stock marketThe U.S. equity market has repeatedly changed its underlying mechanics while the asset itself — a share of stock — has remained largely the same.Trading moved from floors and phone calls to electronic venues. Settlement cycles compressed. Commissions fell to zero. Fractional shares and online brokerages expanded retail participation.The next major change may already be underway. The Daily Dividend— CNBC's Jordan Novet, April Roach, Dan Mangan, Kif Leswing, Alexa LoMonaco, Chloe Taylor, Isabella Gao and Garrett Downs contributed to this report.John Melloy edited this edition.