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CoreWeave stock sinks 10% on weak revenue guidance, increased spending forecast
Revenue more than doubled to $2.08 billion, but CoreWeave’s operating expenses jumped 127% and net loss widened to $740 million.
- On Thursday, CoreWeave Inc. reported first-quarter revenue of $2.08 billion, surpassing the $1.97 billion consensus estimate, though shares fell in volatile trading following weak forward guidance and higher spending forecasts.
- Rising technology and infrastructure costs, which jumped 127% to $1.27 billion, drove CoreWeave's net loss to $740 million as the company rapidly expanded data-center capacity to compete for AI infrastructure demand.
- CoreWeave secured more than $20 billion in debt and equity this year, closing the quarter with almost $25 billion in total debt while expanding partnerships with Meta and Anthropic for data-center services.
- Heavy borrowing to fund data-center expansion leaves CoreWeave facing immediate financing pressure, raising concerns about potential equity dilution and higher borrowing costs as it competes against larger cloud providers like Amazon.
- CoreWeave CEO Michael Intrator reported a revenue backlog of $99.4 billion, with the company projecting it remains on track to surpass 8 gigawatts of active power by 2030 despite current market volatility.
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14 Articles
14 Articles
Connecticut Post+2 Reposted by 2 other sources
CoreWeave: Q1 Earnings Snapshot
LIVINGSTON, N.J. (AP) — LIVINGSTON, N.J. (AP) — CoreWeave Inc. (CRWV) on Thursday reported a loss of $740 million in its first quarter.
·Bridgeport, United States
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Coverage Details
Total News Sources14
Leaning Left3Leaning Right0Center8Last UpdatedBias Distribution73% Center
Bias Distribution
- 73% of the sources are Center
73% Center
L 27%
C 73%
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