CoreWeave Pressure Could Impact These 2 Holdings

We are seeing shares of CoreWeave CRWV come under additional pressure following the more than 15% drop they registered on Thursday.

While some of this may be attributed to the company’s June quarter earnings earlier this week, the more likely driving factor is the expiration of the IPO lockup on Friday. Even though CRWV shares are well off their highs, because the IPO priced at $40, odds are that we are going to see more than a few folks ring the register. Let's remember that this was a known event and one we've been waiting for.

While we are not directly involved with CRWV, we have indirect exposure vis-à-vis our position in SuRo Capital SSSS.

Earlier this week, we called out that we could see SSSS shares move lower on Friday, feeling the weight of CRWV and the lockup expiration. Our thinking is that it could bring us an opportunity to grow the Portfolio’s exposure to SuRo’s dividend stream at better prices than we’ve seen of late. Granted, the size of SuRo’s gain will depend on when it exits its CRWV position now that the lockup expiration is here, but that doesn’t mean SuRo will rush to exit its position. Like us, we suspect SuRo will seek to maximize its return, while sticking to its playbook of shedding its public company investments over time.

The focus for us with SuRo remains its business development company structure, and the resumption of dividend payments as it monetizes its portfolio positions in not only CoreWeave but ServiceTitan (TTAN) and GrabAGun (PEW) near-term, and others in the medium-to-longer-term. As such, we will continue to measure the performance of the Portfolio’s SSSS position on a total return basis.

Our Take on Nvidia’s Stake in CoreWeave

Noting the pressure in CRWV shares, we could see it flow through to our shares of Nvidia NVDA, given that it owns 24.18 million CRWV shares per its latest Schedule 13G filing with the SEC.

We doubt a pull on NVDA shares will be all that much, given the multitude of recent comments that point to vibrant demand for the company’s chips in the coming quarters. That includes the sizable increase in CoreWeave’s Q4 2025 capital spending plans as well as Foxconn’s bullish AI server guidance. However, if NVDA shares were to pull back near $163, that would be a nice place for folks whose position size is smaller than the Portfolio’s to scoop up some shares.

In forthcoming filings, we’ll look to see if Nvidia opts to monetize its CRWV position. Similar to our view on SuRo, we suspect Nvidia will be a more mindful seller, given what it sees in its own business.

Marvell Completes Sale of Automotive Business

When we discuss Marvell MRVL, we, like many others tend to focus on AI and data center demand, the opportunity for its custom AI silicon business and the expected ramp in networking spending as AI adoption increases.

The company’s story is about to become even more focused on those drivers as it has completed the sale of its Automotive Ethernet business to Infineon Technologies IFNNY. Announced back in April, Marvell has sold the business for $2.5 billion in an all-cash transaction.

Because the transaction closed several days into Marvell's current quarter, it will be a modest contributor when its October quarter results are reported. When the company reports its July quarter results on August 28, we’ll be interested in management’s shared plans for the proceeds, which equate to about $2.85 per share.

More Pro Portfolio

At the time of publication, TheStreet Pro Portfolio was long SSSS, NVDA and MRVL.