US EditionCoreWeave beats on revenue, reports over 400% growth in first earnings after IPO
- CoreWeave, an AI cloud company listed on Nasdaq as CRWV, reported Q1 2025 results on May 14 from Livingston, New Jersey, showing $982 million in revenue.
- The company’s 420% revenue growth stemmed from rising demand for AI infrastructure, a major $11.2 billion OpenAI deal, and its recent IPO in March 2025.
- CoreWeave expanded compute capacity by 420 megawatts, partnered with IBM, and acquired AI platform Weights & Biases to support its scaling strategy.
- CEO Michael Intrator highlighted that the company's impressive start to the year marks the culmination of several key achievements, despite reporting an operating loss of $27.5 million primarily due to stock-based compensation.
- While CoreWeave remains unprofitable and faces investor concerns about customer concentration, its robust revenue growth and large backlog of $25.9 billion suggest continued expansion potential.
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Nvidia-backed CoreWeave beats first-quarter revenue estimate
CoreWeave on Wednesday beat Wall Street estimate for quarterly revenue in its first set of results as a public company, signaling strength in demand for the Nvidia-backed AI cloud computing startup's services.
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