Nvidia-linked shares fell on Friday. CoreWeave plunged over 17%; Nebius down 8%; APLD down 5%; Nvidia down 2.5%.

CoreWeave expects capital expenditure to double this year, it said on Thursday, as it spends heavily to scale up its AI cloud platform to handle the massive computing power its customers demand for training and deploying advanced AI models.

The cloud infrastructure technology company expects capital expenditure between $30 billion and $35 billion in 2026, up from $14.9 billion in 2025, driven by purchases of Nvidia's AI chips, rapid data center buildouts and energy procurement for powering them.

"We made the decision to go ahead and to build faster so that we can deliver more infrastructure," CEO Michael Intrator told Reuters in an interview.

"It puts some short-term pressure on the margins," he said, but added that the build-out was helping the company secure stable contracts.

"Q1 is going to be the low point, and then it's going to build from there," he said, referring to margins. CoreWeave's adjusted operating income margin fell to 6% in the December quarter from 16% a year ago.