CoreWeave, Nebius fall more than 8% as AI slowdown headlines hit

  • AI leaders Dario Amodei, Sam Altman and Elon Musk backed slower capability development.
  • CoreWeave, Nebius and Vertiv each fell more than 8% in premarket trading.
  • Jim Cramer said purchases would focus on ready-to-roll data-center stocks after the selloff.

Data-center infrastructure stocks faced sharp premarket losses Monday after Anthropic CEO Dario Amodei called for a slowdown in AI development, a position supported by OpenAI CEO Sam Altman and xAI CEO Elon Musk. Altman also said in a Fortune magazine interview that OpenAI would not pursue an initial public offering in 2026, citing AI safety concerns. CoreWeave and Nebius fell more than 8%, Vertiv dropped over 8% and Eaton declined roughly 6%. Jim Cramer said the market reaction reflected growing concern that the data-center investment story had ended, but argued that the sector remained intact. He said purchases would focus on ready-to-roll stocks after investors recognized that the data-center story was not over, adding that his team had made substantial sales ahead of the decline. Cramer identified Intel and Micron as potential rebound candidates, with Intel down more than 6% premarket and Micron down about 6%, while cautioning that Monday might not mark the bottom. Jim Cramer's Charitable Trust is long MU, INTC and ETN.

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