Markets
April 14, 2026
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SanDisk stock moved higher this week after confirming it will join the Nasdaq-100 later this month. This marked a notable shift in how the index is evolving. At the same time, CoreWeave stock rallied sharply on fresh analyst upgrades and a series of large AI deals. The moves point to a trend where investors are leaning more into AI infrastructure and not just software.
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SNDK Stock Replaces Atlassian as CoreWeave Jumps 10% on Macquarie Upgrade
SanDisk will officially enter the Nasdaq-100 on April 20, replacing Atlassian. SNDK stock gained around 4% following the announcement. The inclusion is expected to drive passive inflows, as more than 200 investment products track the index. This represents over $600 billion in assets under management globally.
Currently, SNDK stock is priced at a high of $952 following a 11% rise over the past day.
The change also reflects a shift in market focus. SanDisk, which operates in memory and storage, is tied closely to AI data demand. Atlassian, a software firm, has been under pressure in a tougher valuation environment for SaaS names.
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CoreWeave Stock Jumps on Upgrades and AI Deals
CoreWeave stock rose between 8% and 10% on April 13. This came after Macquire upgraded the stock from Neutral to Outperform and raised its price target from $90 to $125.
The upgrade followed a series of announcements last week. CoreWeave confirmed a $21 billion deal with Meta Platforms through 2032. Along with this, it signed a new multi-year agreement with Anthropic to support its Claude models at scale. It has also expanded its partnership with OpenAI to $22.4 billion.
Other firms turned more bullish as well. D.A. Davidson raised its price target to $175. Meanwhile, Cantor Fitzgerald maintained an overweight rating with a $149 target. In addition, CoreWeave stock is now up 176% since its IPO and about 29% year-to-date.
CoreWeave’s fundamentals seem to be drawing attention. The firm reported a revenue backlog of $66.8 billion. It expects to generate $12 to $13 billion in revenue by 2026. It has also raised significant capital in recent times. This includes $3.5 billion in convertible notes and $1.75 billion in senior notes.
It should be noted that the demand for AI compute remains strong. The firm reportedly increased prices by about 20% in late 2025. This is because customers are committed to longer-term contracts.
Taken together, the moves in SanDisk stock and CoreWeave stock highlight where the market is heading. As AI adoption grows, demand for storage and compute is increasing along with it.
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