CoreWeave is relying on more debt and a deal for Core Scientific to expand its data center portfolio.
CoreWeave shares sank 10% in premarket trading on Wednesday after the Nvidia-backed company posted a bigger-than-expected loss, raising doubts about its ability to keep costs under check amid robust AI demand.
CoreWeave reported better-than-expected revenue with help from OpenAI, which invested in the artificial intelligence infrastructure provider. CoreWeave acquired model monitoring startup Weights and Biases in the quarter.
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American banking giant JPMorgan has raised its outlook on cloud computing firm CoreWeave (NASDAQ: CRWV), ahead of the company's quarterly earnings release on Tuesday.
CoreWeave has fallen by roughly a third since its June peak. Strong earnings from fellow AI cloud company Nebius could soothe the pain.
As AI applications scale rapidly and quickly become the norm, powering and deploying this next-gen technology requires serious infrastructure. A new class of companies is emerging as critical enablers of the AI revolution, from purpose-built GPU cloud platforms to energy-efficient data centers and sovereign AI capabilities.
CoreWeave heads into Q2 earnings with strong demand trends but competition, high capex, and valuation weighing on sentiment.
CoreWeave is expected to report $1.08 billion in Q2 revenue, surpassing its first-ever billion-dollar quarter milestone. The company holds a $25.9 billion backlog, with $11.9 billion tied to a long-term contract with OpenAI. Core Scientific adds 840 MW of contracted capacity, contributing to early revenue and margin stability without equivalent near-term CapEx.
CoreWeave's (NASDAQ: CRWV) stock has been prominent in the news recently – the company's remarkable journey since going public in March 2025 has attracted the attention of investors. Following its IPO at approximately $40 per share, CoreWeave's stock has soared — more than tripling at one point.
Shares of CoreWeave (CRWV 12.31%) are flying higher on Thursday, up 12.4% as of 2:31 p.m. ET. The jump comes as the S&P 500 and Nasdaq Composite were unchanged.
CoreWeave (NASDAQ:CRWV) enjoyed an incredible rally after its IPO.