BX

CoreWeave stock fell 10.06% to $55.60 after Bernstein analyst Madison Rezaei cut its price target to $51 from $74, citing financing concerns and an estimated $85 billion needed to fund its committed backlog. Despite the downgrade, industry leaders including Nvidia CEO Jensen Huang and Blackstone COO Jon Gray praised the strength of underlying demand for AI compute capacity and CoreWeave's management, suggesting the sell-off may present buying opportunities.

Blackstone reported Q3 2026 earnings of $1.32 per share, beating estimates but declining 13% year-over-year. While the company achieved record AUM of $1.37 trillion with $63.3 billion in quarterly inflows and grew fee-related earnings 6%, segment revenues declined 3% year-over-year, reflecting a challenging operating environment.

The VanEck Alternative Asset Manager ETF (GPZ), launched in June 2025, has underperformed significantly with a year-to-date loss of 21.29% and a Zacks ETF Rank of 4 (Sell). The fund tracks alternative asset managers across private equity, venture capital, and private credit with a 0.4% expense ratio. Top holdings include Brookfield Corp, Blackstone Inc, and KKR & Co Inc. Better alternatives in the space include Invesco Global Listed Private Equity ETF (PSP) and VanEck BDC Income ETF (BIZD).