CoreWeave reported third-quarter revenue of $3.66 billion, up from $1.37 billion a year earlier and above analysts’ $3.55 billion estimate. It raised its annual revenue forecast to $13.0 billion-$13.3 billion from $12.4 billion-$13.2 billion.
CoreWeave’s third-quarter revenue rose to $3.66 billion from $1.37 billion a year earlier, beating the $3.55 billion average analyst estimate. The company raised its annual revenue forecast to between $13.0 billion and $13.3 billion, from a previous range of $12.4 billion to $13.2 billion.
CEO Mike Intrator said customer contracts come first and investment follows, adding that committed demand gives lenders concrete backing and customers typically help fund construction through prepayments. CoreWeave had more than $50 billion in debt as of June and has never turned a profit, while its bonds and credit-default swaps reflected elevated perceived credit risk.
CoreWeave operates about 52 data centers globally, with active capacity of more than 1.7 gigawatts. Its customers include Microsoft, Meta, OpenAI and Anthropic; the company’s shares rose more than 7% in extended trading after falling sharply the previous month.
