Why Did CRWV, SMR, FRMI Stocks Plunge To 52-Week Lows Today?

While some marquee AI names recovered this week after last week’s AI selloff, CoreWeave, Nuscale Power and Fermi declined amid ongoing sector tailwinds and company-specific concerns.

• CRWV stock fell to a 52-week low of $57.23 during regular trading hours on Tuesday amid mounting concerns over its ballooning debt. 
• SMR stock slipped to a 52-week low of $5.33 on Tuesday, extending to three consecutive days of declines due to concerns over commercial timeline delays. 
• FRMI stock fell to an annual low of $2.87 on Tuesday, putting it on track for a sixth consecutive week of declines amid broader sectoral pressures. 

Shares of CoreWeave Inc. (CRWV), Nuscale Power Corp. (SMR) and Fermi Inc. (FRMI) plunged to annual lows on Tuesday amid sustained weakness in certain AI-related names following last week’s selloff. 

While some marquee AI names recovered this week, CRWV, SMR and FRMI stocks declined during regular trading sessions as Wall Street worries over AI debt pressures and company-related uncertainties weighed on the companies. 

However, CRWV stock recovered to close up more than 1.6%. Meanwhile, SMR stock fell nearly 2% and FRMI stock lost 2.65% at close. 

CoreWeave Weighed Down By Debt Woes

CRWV stock fell to a 52-week low of $57.23 during regular trading hours on Tuesday amid mounting concerns over its ballooning debt. 

HSBC on Tuesday flagged rising debt costs and slowing AI demand, noting that they could weigh on the company’s growth.  

The firm reiterated its ‘Reduce’ rating and $39 price target on CRWV shares, implying a downside of more than 37% from the stock’s close on Tuesday. 

HSBC said rising yields and debt market concerns could stop neoclouds from building speculative capacity, which could have been offered under lucrative short-term contracts. The firm’s 2028-2030 non-GAAP earnings per share estimates for CoreWeave are 50%-70% below consensus, and it expects the company to earn a long-term non-GAAP operating margin of 15%-16%, compared to management guidance of about 25%. 

Despite the decline, retail sentiment on CRWV stock was ‘extremely bullish’ at the time of writing. Shares of the company are down more than 13% year-to-date. 

NuScale Power Falls On Commercial Timeline Delays 

SMR stock slipped to a 52-week low of $5.33 on Tuesday, extending to three consecutive days of declines. 

Barclays downgraded NuScale Power to ‘Underweight’ from ‘Equal Weight’ with a price target of $5, down from $11. The revised target implies a downside potential of more than 10% from its last close. 

The analyst cited commercial delays and contract uncertainty as increasing NuScale’s execution risk, adding that the company’s investment case depends on its commercial milestones that have been slower to materialize than expected. 

Barclays also highlighted that an agreement between the Tennessee Valley Authority and ENTRA1 Energy supporting the proposed 6 gigawatt deployment has yet to be announced, adding that the risk of negotiations extends into 2027.

However, the stock climbed higher in the overnight session on Tuesday after SpaceX’s Elon Musk highlighted the importance of power to scale AI buildouts. 

Retail sentiment around SMR stock improved from ‘bullish’ to ‘extremely bullish’ over 24 hours. Shares of the company have plunged more than 60% year-to-date. 

Fermi Falters On Broader AI Risks

FRMI stock fell to an annual low of $2.87 on Tuesday, putting it on track for a sixth consecutive week of declines. 

The energy infrastructure company has been weighed down by broader pressures in the AI sector as worries about debt burden grow. 

Meanwhile, Cantor Fitzgerald analyst Brett Knoblauch lowered the price target on Fermi to $8 from $12 and maintained an ‘Overweight’ rating on the shares. Despite slashing the target by 33.33%, the revised target still implies an upside of more than 172% from FRMI’s last close. 

The analyst said that AI data center stocks have sold off broadly from June highs despite differences in management, contract quality, and project execution. Knoblauch noted that rising rates and cap-rate pressures, capex overruns, execution risk, political uncertainty, growing opposition to data centers, and concerns over AI's capital intensity and catalyst visibility weigh on sector sentiment. 

Retail sentiment around FRMI stock slipped from ‘bullish’ to ‘neutral’ territory over 24 hours. Shares of the company have plummeted more than 63% in 2026. 

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