CoreWeave, Inc. (CRWV) shares tumbled 5.11% in pre-market trading on Thursday, as a confluence of negative headlines pressured the AI cloud provider's stock.

The decline was fueled by a BNP Paribas analyst warning that SpaceX's aggressive AI compute expansion plans could tighten GPU supply, potentially squeezing chip allocation for CoreWeave despite its strategic partnership with NVIDIA. Analysts cautioned that if NVIDIA prioritizes its close collaboration with SpaceX, even strategic partners like CoreWeave may face reduced GPU allocations, raising concerns about the company's future compute supply security.

Adding to the downward pressure, Citi recently lowered its price target on CoreWeave from $158 to $142, while insider filings revealed that CEO Michael Intrator plans to sell 200,000 shares valued at approximately $17.15 million, and Chief Development Officer Brannin McBee executed sales of roughly 134,000 shares at prices between $70.53 and $85.62. The stock is set to report Q2 earnings on August 11, with consensus expecting revenue growth of approximately 137% year-over-year.