CoreWeave Lands Multi-Year Perplexity AI Deal, Shares Rise 5.6% Premarket
CoreWeave secured a multi-year agreement with Perplexity to run next-generation AI inference workloads on GB200 NVL72-powered clusters, driving a 5.6% premarket stock rise. The company reported Q4 revenue up 110% YoY to $1.57B with a $66.8B project backlog, though Q1 guidance fell short as management plans $30–35B capex for 2026.
1. Strategic Partnership with Perplexity
CoreWeave announced a multi-year agreement with Perplexity to run its next-generation AI inference workloads on dedicated Nvidia GB200 NVL72-powered clusters within CoreWeave Cloud. The collaboration also includes joint testing and launch of new AI services, reinforcing CoreWeave’s role as a specialized AI cloud provider.
2. Q4 Financial Performance
In Q4, CoreWeave delivered 110% year-over-year revenue growth to $1.57 billion and secured a $66.8 billion contracted backlog, extending multi-year revenue visibility. Despite the surge, the company recorded net losses driven by aggressive infrastructure expansion and rising interest expense.
3. Forward Guidance and Capex Plans
Management issued Q1 revenue guidance below analyst estimates and outlined $30–35 billion in capital expenditures for 2026 to scale its AI data center capacity. The heavy spending plan underscores the capital-intensive nature of its business and could pressure near-term margins.
4. Stock Reaction and Technical Indicators
Shares rose 5.6% in premarket trading, trading above both 20- and 100-day simple moving averages. Momentum metrics remain mixed, with an RSI in neutral territory and MACD below its signal line, while analysts maintain a Buy consensus with an average price target of $127.04.