CoreWeave beats on revenue and lifts guidance, easing AI slowdown concerns
Revenue rose 168% year over year to $3.66 billion, and the company said demand remains strong with a $132.5 billion backlog.
- CoreWeave, led by CEO Mike Intrator, reported $3.66 billion in quarterly revenue, a 168% year-over-year increase that topped LSEG expectations. Management raised 2026 revenue guidance to $13.0 billion to $13.3 billion.
- Demand for AI infrastructure remains robust, with the company's revenue backlog reaching $132.5 billion, up from $104 billion as of June. CoreWeave owed almost $47 billion in debt at the end of the third quarter.
- Projected 2026 adjusted operating income is now $1.275 billion to $1.375 billion, a significant raise from August estimates of $960 million to $1.15 billion. The company continues bolstering computing capacity for clients.
- Next week, key customer Anthropic is scheduled to debut on the Nasdaq with a potential valuation around $1.4 trillion. Meanwhile, Nvidia CEO Jensen Huang faces a board investigation by Wachtell, Lipton, Rosen & Katz amid sector volatility.
- Management anticipates 1.85 gigawatts of active power by year-end 2026, targeting $37 billion to $39 billion in full-year capital expenditures. The company will launch its first data centers in Asia.
58 Articles
58 Articles
CoreWeave Lifts Its 2026 Forecast and Rules Out New Unsecured Debt at Today's Yields
CoreWeave's third-quarter revenue rose 168% to $3.66 billion, and the AI cloud provider raised its full-year outlook. Its finance chief said the company won't issue new parent-level unsecured debt through 2027 at current yields.
Neocloud said it would achieve profitability in tight terms in the first half of 2028, which is a relief around concerns about its debt burden.
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CoreWeave Aims for Profitability by 2028 Despite $46.9 Billion Debt and Rising AI Infrastructure Costs
CoreWeave expects to reach adjusted profitability in the first half of 2028 as demand for AI computing infrastructure continues to exceed available capacity. The company reported a $132.5 billion revenue backlog, raised its 2026 revenue outlook and revealed plans to receive $9 billion in customer prepayments and deposits over the next three months.
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