CoreWeave's Strong Q1 Performance Signals Robust AI Cloud Demand Amid Expansion Plans

Coreweave Says AI's Cloud Demand Is Strong and Accelerating

Coreweave Inc.'s expectation-topping results in its first earnings report indicated artificial intelligence investment showed no signs of waning to start the year. The shares surged as much as 8% in post-market trading. "Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications," Chief Executive Officer Michael Intrator said in the statement. "We are scaling as fast as possible to capture that demand."

Nvidia-backed CoreWeave beats first-quarter revenue estimate

May 14 (Reuters) - CoreWeave (CRWV.O), opens new tab 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 (NVDA.O), opens new tab AI cloud computing startup's services. Businesses looking to get ahead in the race to develop the most sophisticated generative artificial intelligence technology have boosted demand for infrastructure such as data centers and high-powered servers. CoreWeave offers access to data centers and Nvidia chips, which are highly coveted in the competitive AI development landscape. The company said revenue backlog was $25.9 billion, as of March 31. Its strategic deal with ChatGPT-maker OpenAI added $11.2 billion in revenue backlog. CoreWeave reported revenue of $981.6 million during the first quarter, compared with analysts' average estimate of $852.9 million, according to data compiled by LSEG. Reporting by Arsheeya Bajwa and Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Artificial Intelligence

CoreWeave beats estimates in first results as a listed company

CoreWeave reported a 420 per cent rise in revenue in its first quarter as a listed company as the artificial intelligence data centre operator beat Wall Street forecasts. The US group, which leases computing capacity to tech groups building AI models, posted revenues of $982mn for the first three months of 2025, above analyst estimates of $860mn. Its shares initially rose as much as 8 per cent in after-hours trading, having closed the day at $67.46, up 6.6 per cent. CoreWeave's net losses for the quarter were $315mn, 143 per cent higher than the same period last year, when losses were $129mn. Chief executive Michael Intrator said: "Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications. We are scaling as fast as possible to capture that demand." The New Jersey-based company listed its shares in March in a drastically downsized initial public offering. It had initially targeted a $2.7bn raise at $47-$55 per share, but slashed it to $1.5bn at $40 a share, following investor concern about its large debt burden and a softening market for AI infrastructure. CoreWeave has grown rapidly amid an explosion in AI in the past two years. But the company borrowed extensively to fuel its growth, raising $12.9bn of debt in the past two years to build data centres as demand for products and services powered by generative AI has boomed.

CoreWeave's shares slip after it unveils AI spending plans in first results since IPO

May 15 (Reuters) - CoreWeave (CRWV.O), opens new tab shares fell more than 5% in premarket trading on Thursday, after the Nvidia-backed (NVDA.O), opens new tab artificial intelligence company unveiled its capital expenditure plans to meet booming demand. The data center operator, which went public in March, forecast its second-quarter capital expenditure would be in the range of $3 billion to $3.5 billion while revenue expectations were $1.06 billion to $1.1 billion. CoreWeave's management was optimistic about the demand for its services on the post-earnings call, but brokerage MoffettNathanson said "the cost of preparing to meet this demand may spook investors" who are paying a high price for the stock. CoreWeave, which leases computing capacity to technology companies and hyperscalers building AI models such as one of its prominent customers Microsoft (MSFT.O), opens new tab, reported a more than five-fold increase in revenue to $981.6 million for the first three months of the year. "We have also added new enterprise customers and a new hyperscaler and signed expansion agreements with several large customers, including a recent $4 billion expansion with a large AI enterprise," CoreWeave's CEO Michael Intrator said. Its annual and second-quarter capital expenditure forecasts indicate AI spending could continue at a similar pace even as investor scrutiny sharpened after the launch of DeepSeek's low-cost AI models. Big Tech firm Meta (META.O), opens new tab raised its annual capital expenditure forecast, while Alphabet (GOOGL.O), opens new tab reaffirmed it and a Microsoft executive also re-emphasized the company's AI spending plans in a LinkedIn post in April. As of last close, CoreWeave's stock had surged 69% from the offer price in its March IPO. At least five brokerages have raised their price targets on the stock to between $50 and $70 following the results. Reporting by Jaspreet Singh in Bengaluru; Editing by Krishna Chandra Eluri Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Business

CoreWeave seeks new $1.5bn debt deal after downsized IPO

CoreWeave is preparing to raise about $1.5bn in debt that could be used to refinance part of its massive liabilities just weeks after the artificial intelligence data centre operator listed in New York to a muted reception from investors. The US group is holding a roadshow this week with bankers at JPMorgan for debt deals that are expected to include a high-yield bond offering, according to people familiar with the matter. CoreWeave executives intend to use the meetings to gauge investor interest before deciding the final size of the deal, the people said. But early talks with investors and bankers indicated the group, which leases computing capacity to technology companies building AI models, could attempt to raise more than $1.5bn. Those familiar with CoreWeave's plans said refinancing part of its large debt pile in the public credit markets at lower rates would allow CoreWeave to reduce its cost of borrowing. One person close to the company added the money could be used to invest further in its operations. The New Jersey-based company listed its shares in March in a drastically downsized initial public offering. It had initially targeted a $2.7bn raise at $47-$55 per share, but slashed it to $1.5bn at $40 per share, following investor concern about its large debt burden and a softening market for AI infrastructure. Its stock has climbed in value by around a third since then to $55 per share on Thursday, as markets remained bullish over the growth of the AI market. CoreWeave has grown rapidly amid an explosion in AI in the past two years. Its revenue has soared from $16mn in 2022 to $1.9bn last year. But the company borrowed extensively to fuel its growth, raising $12.9bn of debt in the past two years to build data centres as demand for products and services powered by generative AI has boomed. CoreWeave had about $8bn of total debt on its balance sheet as of December 2024. The majority was raised through private credit deals with investors such as private equity group Blackstone and hedge fund Magnetar Capital at high interest rates of between 11 and 15 per cent. About $1bn of the IPO proceeds was earmarked to settle a bridge loan from a consortium of banks led by JPMorgan, which was also a bookrunner on the listing. The FT has also reported that CoreWeave is facing debt and interest payments of $7.5bn by the end of 2026. That debt is secured against its portfolio of more than 250,000 Nvidia AI chips and contracts with customers such as Microsoft. Nvidia is also one of CoreWeave's biggest investors, owning about 5 per cent of the company, while being one of its largest suppliers and customers. The chip giant also bought $250mn of shares in the IPO. A pitch deck for potential credit investors seen by the Financial Times showed that the bond would be issued by CoreWeave, the parent company, rather than a subsidiary. Previously, CoreWeave has created special purpose vehicles for its large loans, which are secured against assets such as computing chips and customer leasing contracts. People close to the matter said the new debt would be unsecured, unlike almost all of its existing loans.

CoreWeave beats on revenue, reports over 400% growth in first earnings after IPO

Mike Intrator, co-founder and CEO of CoreWeave, testifies during a U.S. Senate Commerce Committee hearing on artificial intelligence in Washington on May 8, 2025. Shares of artificial intelligence infrastructure provider CoreWeave reported better-than-expected revenue on Wednesday in the company's first earnings release since going public. The stock popped in extended trading. Here's how CoreWeave did in comparison with LSEG consensus: Revenue soared 420% in the quarter, which ended on March 31, from $188.7 million a year ago, according to a statement. That compares with 737% growth for all of 2024. The company's net loss of $314.6 million widened from $129.2 a year earlier, partly because of $177 million in stock-based compensation costs for awards tied to the IPO. In renting out access to Nvidia graphics processing units, CoreWeave competes with cloud providers such as Amazon. But large companies like Google and Microsoft have come to depend on CoreWeave. During the quarter, OpenAI committed to a five-year deal with CoreWeave that will be worth up to $11.9 billion. The transaction is on top of OpenAI's reliance on Microsoft, which was responsible for 62% of CoreWeave's 2024 revenue. There was some skepticism heading into the report even though the stock was up 31% for the week. Long-term uncertainty on AI supply and demand and worries about the economy "likely keep shares range-bound for now," Wells Fargo analysts wrote in a report to clients last week. The firm recommends holding the stock. After completing the biggest U.S. venture-backed tech IPO since 2021, CoreWeave saw its shares debut on Nasdaq in late March, initially at $39. Nvidia, a customer and major supplier and already one of CoreWeave's major investors, stepped in to anchor THE IPO at $40, below the $47 to $55 range announced earlier. Executives will discuss the results and issue guidance on a conference call at 5 p.m. ET.

CoreWeave CEO defends capex plans, says company is meeting 'demand signals' from major hyperscalers

In its first earnings report since its market debut in March, CoreWeave said it expects capex of $20 billion to $23 billion for the year, topping a $4.61 billion estimate for the year from analysts surveyed by LSEG. The range included the impact of a recent OpenAI deal and other factors. Intrator further explained the heightened capital expenditures during an interview with CNBC's "Squawk on the Street" on Thursday, saying that the company is meeting "demand signals" from critical clients asking for infrastructure quicker. "The increase in the capex budget is driven by success within the company," he said. Shares of CoreWeave whipsawed post-earnings. The stock was last up about 5% after falling more than 5% earlier in the session. Some investors raised issues over the company's debt and sustainability of demand for the Nvidia-backed company, which depends on businesses renting out its AI servers powered by AI chips. Intrator told CNBC that financing remains strong and the company continues to be able to repay lenders within the term of the contracts. "They look at the contracts, they understand the contracts, they understand our business, and they continue to lend us money so that we can scale and deliver," he said. CoreWeave has accrued a growing list of major technology clients, including Microsoft and Nvidia, and said it recently inked a deal with another hyperscaler. OpenAI committed to a five-year deal totaling nearly $12 billion in March and signed an additional $4-billion deal at the end of the quarter. Remaining performance obligations came in at $14.7 billion, down from $15.1 billion at the end of 2024.

Jim Cramer unpacks CoreWeave's earnings: 'Demand for their computing power is clearly there'

"As far as I'm concerned, this was a great quarter from CoreWeave," he said. "The demand for their computing power is clearly there, and that was not a given at the time of the IPO, when everyone assumed the AI infrastructure story was about to collapse." CoreWeave's revenue rocketed 420% over the quarter, blowing past estimates. But while the company had better-than-expected sales, its profitability was more mixed, Cramer said. The stock initially soared Wednesday evening in extended trading after the company posted earnings. But trading was choppy on Thursday, with shares ultimately closing down 2.51%. According to Cramer, CoreWeave's weaker profitability is to be expected as it manages high demand from customers and elevated costs for certain pieces of equipment. He was also encouraged that management claimed macroeconomic uncertainty isn't impacting customers' behavior. In fact, he pointed out, CFO Nitin Agrawal said on the earnings call that the company is actually "seeing an acceleration of customer demand." CoreWeave provides key AI equipment to tech outfits including Microsoft, Meta and OpenAI. Nvidia is also a major supplier and customer. Some on Wall Street were wary of CoreWeave's ambitious capital expenditures plan, which came in at $20 to $23 billion, substantially higher than the $18.4 consensus estimate from LSEG. Cramer suggested the heightened capex forecast made some investors nervous because CoreWeave will likely have to borrow billions. But Cramer was satisfied with CEO Michael Intrator's explanation for the colossal spend, which he said is "driven by success within the company." He told Cramer in an interview that CoreWeave is spending so much because customers are eager to receive computing power as soon as possible, and he affirmed that the company is able to repay lenders according to the terms of the contracts. "Once you get past all the talk of revenue growth, backlogs, margins, capex, I think that the CoreWeave story comes down to whether or not you trust management," Cramer said. "Specifically, whether or not you trust that the investments the company's making today will pay off down the line. Given that they've already got lots of new business lined up, I do trust them." CoreWeave did not immediately respond to request for comment.

Nvidia owned $900 million in CoreWeave stock as of March, filing shows

After popping this week, CoreWeave shares are up about 65% since the company's IPO earlier this year. Nvidia is a big beneficiary. Nvidia owned nearly $900 million worth of shares in CoreWeave at the end of March, according to a filing from the chipmaker on Thursday. Assuming Nvidia hasn't sold any shares since then, that stake is now worth close to $1.6 billion, as CoreWeave's stock has surged in the past month. CoreWeave, which rents out access to Nvidia graphics processing units for training artificial intelligence models, went public on the Nasdaq in late March in the largest U.S. venture-backed tech IPO since 2021. Leading up to its debut, the company raised billions of dollars in debut and equity, including from key supplier Nvidia. At the time of CoreWeave's IPO prospectus, Nvidia owned 17.9 million shares shares for a stake worth around 5%. Nvidia now owns 24.2 million shares, Thursday's filing shows. As CoreWeave courted investors in its roadshow, the company issued an expected pricing range for the IPO of $47 to $55 per share. But the market was jittery after an extended IPO drought. Nvidia stepped in, offering to anchor the deal at $40 per share with a $250 million order, CNBC reported. CoreWeave ultimately sold shares to investors at $40 each, raising $1.5 billion in the process. Mike Intrator, CoreWeave's CEO, told CNBC just after the IPO that Nvidia is a "wonderful partner" and he called the relationship between the two companies "symbiotic." By Thursday, CoreWeave investors had seen substantial gains, with the stock closing at $65.77. The company late Wednesday reported 420% revenue growth from a year earlier, beating analysts' estimates, a sign that the AI boom is continuing.

CoreWeave pops 60% this week on AI growth momentum, big Nvidia stake

CoreWeave CEO Mike Intrator testifies before the Senate Committee on Commerce, Science, and Transportation in Washington on May 8, 2025. Intrator and fellow tech leaders testified about the global artificial intelligence race and how the United States can remain competitive. Shares of the artificial intelligence infrastructure provider are up nearly 60% gain in the past five trading days, lifting the company's market cap to about $38 billion. CoreWeave has more than doubled in value since its IPO in late March. The company got a big boost after reporting 420% revenue growth in its first earnings report as a public company on Wednesday. Guidance surpassed full-year expectations as well. A day later, CoreWeave revealed that major supplier Nvidia holds a 7% stake, up from its pre-IPO holdings. Nvidia's holdings are now worth about $2 billion after this week's pop. The outperformance makes CoreWeave a standout in a market that's seen few IPOs of late, though there are signs that more companies are poised to debut. CoreWeave was the first pure-play AI IPO, and provides investors with a way to bet on the promise of generative AI, which has boomed in popularity since the launch of OpenAI's ChatGPT in late 2022. CoreWeave said this week that OpenAI had agreed to a four-year deal worth up to $4 billion, on top of a nearly $12 billion commitment announced in March. OpenAI on Friday announced a research preview of Codex, an AI agent that can perform several software engineering tasks at once. Last week, CoreWeave CEO, Mike Intrator testified at a Senate hearing in Washington, D.C., alongside OpenAI CEO Sam Altman, Advanced Micro Devices CEO Lisa Su and Brad Smith, Microsoft's president and vice chair.

Nvidia-backed CoreWeave revealed big AI bills -- and the stock dipped 13%

CoreWeave stock tumbled Wednesday following its first earnings report since going public, as the data center company's growing capital expenditure raised concerns among investors. Shares in the Nvidia-backed (NVDA) company initially dropped more than 13% during after-hours trading, following the results before shares rebounded on Thursday morning. CoreWeave is a so-called 'picks and shovels' company of the AI revolution. It's one of the largest holders of Nvidia's graphics processing units and leases data center capacity to Big Tech companies. The firm's executives said in a call following the report's publication that it expects to spend between $20 billion and $23 billion in 2025. That tops the $18.3 billion projected by Wall Street analysts, according to Yahoo Finance, citing Bloomberg consensus estimates. Analysts downgraded their outlook for CoreWeave stock following the news. Gil Luria of DA Davidson downgraded the stock to an Underperform rating from Neutral on Thursday morning, citing the "level of capital intensity equity investors are unlikely to stomach." Luria also pointed to CoreWeave's soaring interest expenses for the decision. The company's interest expenses rose 549% in the first quarter, totaling $264 million. That's more than the $182 million projected by Wall Street, according to Yahoo Finance (APO), citing Bloomberg data. Operating expenses have been soaring too. While CoreWeave announced a 420% revenue increase from the same period last year, it also unveiled a 487% jump in operating costs, totaling more than $1 billion for the first quarter of the year. CoreWeave is not the first tech company to take an expensive gamble on AI-related infrastructure -- and then be punished on Wall Street for it. Leading the pack is Microsoft (MSFT), which plans to allocate $80 billion in capital expenditures for data center development in the 2025 fiscal year, it announced in a January blog post. Analysts forecast that such spending could create a drag on margins for several years. Meanwhile, Amazon's (AMZN) capital expenditures are expected to reach approximately $75 billion in 2025, up more than 50% from the previous year. Following that company call in February, its stock slipped more than 5% in after-hours trading. Alphabet (GOOGL) also plans to spend $75 billion on capital expenditures in 2025, the majority of which to be directed to enhancing technical infrastructure for AI, it announced during a call with investors in February. Google's stock fell more than 8% immediately after. Likewise, Meta (META) has set its AI capital expenditure budget at $60 billion to $65 billion for 2025 -- a significant jump from previous years.

CoreWeave Revenue Soars on AI Demand, But Heavy Spending Hits Profit - Decrypt

The company forecast up to $23 billion in capital expenditures for 2025, well above analyst expectations, as it races to meet surging AI demand. AI infrastructure firm CoreWeave reported revenue more than five times higher than a year ago, fueled by surging demand for computing power across the sector. In the company's first earnings report since going public in March, released Wednesday, CEO Mike Intrator said CoreWeave is "scaling as fast as possible" to meet "accelerating" needs for the booming AI sector. The New Jersey-based AI builder brought in $981.6 million in revenue for the first quarter this year, up roughly $793 million from 2024, according to its earnings report. CoreWeave's stock (NASDAQ: CRWV) closed higher on the day, up 6.6% to $67.46. The stock quickly gave up those gains in after-hours trading, falling 7.8% to $62.20, per Google Finance. The stock had opened at $39 on March 28, marking one of the year's biggest tech IPOs. While its quarterly revenue has swelled, the company also reported a steeper net loss of $314 million, or $1.49 per share, compared to a $129.2 million loss in Q1 2024. Those losses are compounded by its heavy spending, expected to run up to $23 billion in capital expenditures for the year. The figure is well above Bloomberg consensus estimates of $18.3 billion. AI infrastructure deals would keep growing due to "soaring demand for AI," Jay Jo, senior analyst at Tiger Research, told Decrypt. "But for the flywheel to keep turning, the AI market needs to generate real profits and build a solid, recurring revenue base, not just rely on investment," Jo noted. "Without that, long-term momentum could stall." Most AI firms, including OpenAI, which made a $12 billion deal with CoreWeave in March, "heavily depend on external funding" to cover their operating costs, Jo said. In the same month, it began the acquisition of Weights & Biases, a software deal that further catapulted it to the forefront of AI infrastructure. Still, CoreWeave threaded full-year revenue between $4.9 billion and $5.1 billion, beating analyst projections, per the earnings report. For now, CoreWeave's expanding partnerships and backlog illustrate a solid market position, yet questions persist regarding sustainable profitability amid aggressive infrastructure growth. "Everyone paints a rosy picture of the future, but profitability is the real foundation," Jo said.

CoreWeave shares fall after missed earnings estimates in first report since Nasdaq debut - SiliconANGLE

CoreWeave shares fall after missed earnings estimates in first report since Nasdaq debut Shares in CoreWeave Inc. fell more than 5% in late trading today after the cloud artificial intelligence infrastructure provider fell very short of expectations on earnings but reported a beat on revenue in its fiscal first quarter, the company's first report since it went public in March. For the quarter that ended on March 31, CoreWeave reported a diluted adjusted earnings per share loss of $1.49, up from a loss of 62 cents per share in the first quarter of 2024, on revenue of $981.6 million, up a whopping 420% year-over-year. The earnings per share fell well short of the positive 66 cents per share expected by analysts, while revenue came in ahead of an expected $859.98 million. In an earnings report with surprisingly large growth numbers, CoreWeave reported adjusted operating revenue of $163 million in the quarter, up 550% year-over-year, on an adjusted operating margin of 17%, up three basis points year-over-year. Adjusted earnings before interest, tax, depreciation and amortization came in at $606 million, six times higher than the $105 million CoreWeave booked in the first quarter of 2024. Not surprisingly, customer growth was key to the huge increases and CoreWeave landed multiple customer wins in the quarter, including a deal with OpenAI that added $11.2 billion to the company's revenue backlog. As of the end of the quarter, CoreWeave had a revenue backlog of $25.9 billion. Other business highlights in the quarter included the general availability launch of CoreWeave AI Object Storage, a high-performance object storage solution optimized for artificial intelligence workloads. Designed for low-latency data access, CAIOS supports efficient training and inference at scale, further expanding CoreWeave's infrastructure offerings for demanding AI applications. Additionally, CoreWeave partnered with IBM Corp. to support the development of IBM's Granite models and continued its infrastructure expansion by adding 420 megawatts of active power capacity, with another 1.6 gigawatts under contract. The quarter also saw CoreWeave announce that it entered an agreement to acquire AI model development firm Weights & Biases Inc. for an undisclosed price. "We've delivered an outstanding start to 2025 on multiple fronts. Our strong first quarter financial performance caps a string of milestones, including our IPO, our major strategic deal with OpenAI as well as other customer wins, our acquisition of Weights & Biases and many technical achievements," said Michael Intrator, co-founder and chief executive officer of CoreWeave, in the company's earnings release. "Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications." For its fiscal second quarter, CoreWeave expects revenue of $1.06 billion to $1.1 billion, ahead of the $986.7 million expected by analysts, and for the full year, the company forecasts revenue of $4.9 billion to $5.1 billion.

CoreWeave shares fall after missing EPS estimates in first earnings since Nasdaq debut - SiliconANGLE

CoreWeave shares fall after missing EPS estimates in first earnings since Nasdaq debut Shares in CoreWeave Inc. were down over 5% in late trading today after the cloud artificial intelligence infrastructure provider fell very short of expectations on earnings but reported a beat on revenue in its fiscal first quarter, the company's first quarter after it went public on the Nasdaq in March. For the quarter that ended on March 31, CoreWeave reported a diluted adjusted earnings per share loss of $1.49, up from a loss of 62 cents per share in the first quarter of 2024, on revenue of $981.6 million, up a whopping 420% year-over-year. The earnings per share fell well short of the positive 66 cents per share expected by analysts, while revenue came in ahead of an expected $859.98 million. In an earnings report with surprisingly large growth numbers, CoreWeave reported adjusted operating revenue of $163 million in the quarter, up 550% year-over-year, on an adjusted operating margin of 17%, up three basis points year-over-year. Adjusted earnings before interest, tax, depreciation and amortization came in at $606 million, six times higher than the $105 million CoreWeave booked in the first quarter of 2024. Not surprisingly, customer growth was key to the huge increases and CoreWeave landed multiple customer wins in the quarter, including a deal with OpenAI that added $11.2 billion to the company's revenue backlog. As of the end of the quarter, CoreWeave had a revenue backlog of $25.9 billion. Other business highlights in the quarter included the general availability launch of CoreWeave AI Object Storage, a high-performance object storage solution optimized for artificial intelligence workloads. Designed for low-latency data access, CAIOS supports efficient training and inference at scale, further expanding CoreWeave's infrastructure offerings for demanding AI applications. Additionally, CoreWeave partnered with IBM Corp. to support the development of IBM's Granite models and continued its infrastructure expansion by adding 420 megawatts of active power capacity, with another 1.6 gigawatts under contract. The quarter also saw CoreWeave announce that it entered an agreement to acquire AI model development firm Weights & Biases Inc. for an undisclosed price. "We've delivered an outstanding start to 2025 on multiple fronts. Our strong first quarter financial performance caps a string of milestones, including our IPO, our major strategic deal with OpenAI as well as other customer wins, our acquisition of Weights & Biases and many technical achievements," said Michael Intrator, co-founder and chief executive officer of CoreWeave, in the company's earnings release. "Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications." For its fiscal second quarter, CoreWeave expects revenue of $1.06 billion to $1.1 billion, ahead of the $986.7 million expected by analysts, and for the full year, the company forecasts revenue of $4.9 billion to $5.1 billion.

NVIDIA-backed CoreWeave to Invest $23 billion on AI infrastructure in 2025 | AIM

The company's financial results indicate a strong commitment to developing AI infrastructure, despite the ongoing trade tensions between the US and China. NVIDIA-backed CoreWeave, a cloud computing company, plans to invest $20 to $23 billion in 2025 on AI infrastructure and data center capacity to meet rising customer demands, including those from Microsoft. In its first quarter of 2025 results, the company highlighted continued rapid scaling of its purpose-built AI Infrastructure, including adding new compute capacity, totalling approximately 420 MW of active power and approximately 1.6 GW of contracted power at quarter end. According to the reports, the company's projected capital expenditure of between $3 billion and $3.5 billion for the second quarter was way above its revenue expectation of $1.06 billion to $1.1 billion. Revenue increased by 420% year-over-year, fueled by strong demand for the CoreWeave Cloud Platform. "Long-term, committed contracts provide strong revenue visibility, attractive unit economics, and enable a success-based approach to capital investments matched to customer contracts," the company said in its first quarter results. "Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications. We are scaling as fast as possible to capture that demand," said Michael Intrator, CoreWeave's co-founder and CEO. The company reported that its revenue backlog stood at $25.9 billion as of March 31, with the five-year agreement with OpenAI contributing $11.2 billion. In March, CoreWeave announced a partnership with OpenAI to provide AI infrastructure. The partnership aims to increase OpenAI's computing capacity for training and delivering its latest models to its hundreds of millions of users worldwide. The cloud computing company announced that it raised $1.4 billion in net proceeds through its initial public offering (IPO). This amount contributes to a total of $17.2 billion in debt and equity raised to support the company's strategy for advancing the next generation of cloud computing and its future applications in AI. The company has also ramped up investments in data centre and server infrastructure to meet customer demand. Capital expenditures amounted to $1.9 billion in the first quarter. This quarter-over-quarter increase was driven by the timing of new data centre capacity coming online and the introduction of new generations of GPUs. According to Reuters, CoreWeave is also looking to diversify its supply chain amidst the US-China trade war tensions, aiming to minimise the tariffs' impact. "(Our clients) are looking for really significant investment from us, and we're trying to make sure that we're doing it in a way that doesn't in any way impact our ability to secure the margins that we need in order to run our business," Intrator told the news agency.

Weeks after IPO, CoreWeave reportedly seeking $1.5B in debt financing - SiliconANGLE

Weeks after IPO, CoreWeave reportedly seeking $1.5B in debt financing Following its lukewarm initial public offering in late March, CoreWeave Inc. is reportedly seeking to raise $1.5 billion in debt financing. Bloomberg today cited a source as saying that JPMorgan Chase & Co. is expected to lead the transaction. CoreWeave, which operates a cloud platform optimized for artificial intelligence workloads, reportedly hopes to raise the financing through high-yield bonds. Those are loans that provide high yields to lenders because they're considered to have an elevated risk of default. CoreWeave launched in 2017 with an initial focus on mining cryptocurrency using graphics processing units. About two years later, the company started repurposing its GPU clusters to run AI workloads. Today, it operates a network of 32 AI-optimized data centers equipped with about a quarter million graphics cards. The company took on a significant amount of debt to build out its AI infrastructure. According to the Financial Times, CoreWeave has borrowed $12.9 billion alone in the past two years and had $8 billion worth of loans on its balance sheet at the end of 2024. Those liabilities are expected to incur $7.5 billion in interest payments through the end of 2026. It's believed CoreWeave may seek to refinance some of its loans with the new debt raise currently in the works. The reported fundraising push comes less than three months after the company floated on the Nasdaq. CoreWeave sold 37.5 million shares for $1.5 billion, significantly less than the $2.7 billion it had originally sought. The company's shares opened below their IPO price, dropped 7% in their second day of trading and jumped more than 40% the next day. CoreWeave notched another big one-day jump this month after Microsoft Corp. reported its third quarter earnings. The tech giant, which accounts for about two thirds of CoreWeave's revenue, reaffirmed plans to increase capital expenditures in the next fiscal year. Microsoft earlier announced plans to invest $80 billion in new data center capacity. CoreWeave also counts Meta Platforms Inc., OpenAI and Cohere Inc. as customers. After Microsoft declined a $12 billion option to extend its data center deal with the cloud provider, OpenAI reportedly bought the contract. At the time of its IPO filing, CoreWeave stated that its data centers use more than 360 megawatts of power. One megawatt corresponds to the electricity consumption of several hundred households. The company has inked contracts for 1.3 gigawatts of power that it plans to use in the coming years to expand its data center network.

Crypto miner turned AI provider CoreWeave adds billions in market cap

Regulatory filings show that Nvidia increased its stake in CRWV by the end of the first quarter to 24.2 million shares from 17.9 million shares. Shares of AI cloud computing company CoreWeave (CRWV) surged on May 16 after chip giant Nvidia revealed a large ownership stake, signaling growing corporate and institutional interest in the newly public company. CRWV stock climbed as much as 26.3% in New York trading, pushing its market capitalization above $38 billion. Trading volumes were more than double the daily average, according to Yahoo Finance data. The stock was last seen trading around $81, up 23% on the day. CoreWeave's rally was sparked by regulatory filings from Nvidia showing that the company owned $900 million of CRWV stock at the end of the first quarter. The value of the holdings has more than doubled since March 31, assuming Nvidia hasn't sold any shares since then. As CNBC reported, Nvidia's ownership stake at the time of CoreWeave's initial public offering (IPO) was 17.9 million shares. CoreWeave's stock has gained more than 100% from its IPO price of $40 in late March. It has vastly outperformed the Nasdaq Composite Index and broader US stock market over that period. The Nvidia revelations overshadowed CoreWeave's fiscal first-quarter earnings report, which showed a 420% surge in revenue but also a 487% spike in operating expenses. The company's net loss widened by 143% compared to a year earlier. Its stock declined shortly after the financials were released on May 14. CoreWeave's origin story began in 2017 as an Ethereum mining operation called Atlantic Crypto. The company began transitioning away from digital assets the following year after the onset of the bear market. By 2019, it had rebranded to CoreWeave and began leveraging its GPU infrastructure to provide cloud computing services. The company then rode out the AI boom and its unique relationship with Nvidia to secure a massive IPO launch. CoreWeave has landed other major investors, with Cointelegraph reporting in March that OpenAI reached an $11.9 billion deal with the company to supply AI infrastructure for the ChatGPT developer's massive data needs. CoreWeave is operating in a much broader cloud computing industry, which is forecast to become a $2 trillion behemoth by 2030 as AI applications gain mainstream adoption, according to Goldman Sachs. Another estimate by Fortune Business Insights suggests that the global cloud AI market alone could approach $600 billion by 2032, marking a compound annual growth rate of 28.5%.

Nvidia-Backed CoreWeave's Stock Jumps on AI-Driven Growth in First Report Since IPO

CoreWeave (CRWV) reported first-quarter revenue that grew over 400% year-over-year, sending shares higher in extended trading Wednesday. In its first quarterly report since going public in March, the cloud computing company backed by Nvidia (NVDA) posted revenue of $981.6 million, up 420% from a year earlier. Its adjusted net loss was $149.6 million, widening from a $23.6 million loss in the year-ago quarter. "Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications. We are scaling as fast as possible to capture that demand," said CoreWeave co-founder and CEO Michael Intrator. The results come as CoreWeave is reportedly preparing to raise roughly $1.5 billion in debt financing after its initial public offering was smaller than anticipated, according to a Financial Times report last week. CoreWeave makes money by providing its clients with access to data centers, which are used to develop artificial intelligence models. The company's data centers are equipped with highly coveted chips from Nvidia, which holds a roughly 5% stake in CoreWeave. CoreWeave shares jumped over 7% in after-hours trading, after adding close to 7% during Wednesday's regular session. The stock has surged nearly 70% from its IPO price in March through the closing bell.

Nvidia-backed CoreWeave rides AI wave in first results as public company

CoreWeave offers access to data centers and Nvidia chips, which are highly coveted in the competitive AI development landscape. The company said revenue backlog was $25.9 billion, as of March 31. Its strategic five-year deal with OpenAI added $11.2 billion in revenue backlog.Nvidia-backed CoreWeave beat Wall Street estimate for quarterly revenue on Wednesday, in its first set of results as a public company, signaling strength in demand for the AI cloud computing startup's services. Shares of the New Jersey-based company jumped 11% in extended trading. Through last close, they have risen 68% since their muted Nasdaq debut in March. Businesses looking to get ahead in the race to develop the most sophisticated generative artificial intelligence technology have boosted demand for infrastructure such as data centers and high-powered servers. CoreWeave offers access to data centers and Nvidia chips, which are highly coveted in the competitive AI development landscape. The company said revenue backlog was $25.9 billion, as of March 31. Its strategic five-year deal with OpenAI added $11.2 billion in revenue backlog. As part of the deal signed in March, CoreWeave will provide AI infrastructure to OpenAI, while the ChatGPT maker will get a stake in the company. Demand for AI infrastructure and computing has shown signs of resilience despite widespread trade tensions and investor concerns surrounding hefty spending on expanding pricey advanced data-center hardware. CoreWeave reported revenue of $981.6 million during the first quarter, compared with analysts' average estimate of $852.9 million, according to data compiled by LSEG.

CoreWeave's shares slip after it unveils AI spending plans in first results since IPO

CoreWeave shares fell more than 5% in premarket trading on Thursday, after the Nvidia-backed artificial intelligence company unveiled its capital expenditure plans to meet booming demand. The data center operator, which went public in March, forecast its second-quarter capital expenditure would be in the range of $3 billion to $3.5 billion while revenue expectations were $1.06 billion to $1.1 billion. CoreWeave's management was optimistic about the demand for its services on the post-earnings call, but brokerage MoffettNathanson said "the cost of preparing to meet this demand may spook investors" who are paying a high price for the stock. CoreWeave, which leases computing capacity to technology companies and hyperscalers building AI models such as one of its prominent customers Microsoft, reported a more than five-fold increase in revenue to $981.6 million for the first three months of the year. "We have also added new enterprise customers and a new hyperscaler and signed expansion agreements with several large customers, including a recent $4 billion expansion with a large AI enterprise," CoreWeave's CEO Michael Intrator said. Its annual and second-quarter capital expenditure forecasts indicate AI spending could continue at a similar pace even as investor scrutiny sharpened after the launch of DeepSeek's low-cost AI models. Big Tech firm Meta raised its annual capital expenditure forecast, while Alphabet reaffirmed it and a Microsoft executive also re-emphasised the company's AI spending plans in a LinkedIn post in April. As of last close, CoreWeave's stock had surged 69% from the offer price in its March IPO. At least five brokerages have raised their price targets on the stock to between $50 and $70 following the results.

Nvidia-Backed CoreWeave (CRWV) Reports Q1 Earnings - CoreWeave (NASDAQ:CRWV)

CoreWeave Inc CRWV reported financial results for the first quarter after the market close on Wednesday. Here's a rundown of the report. Q1 Earnings: CoreWeave reported first-quarter revenue of $981.63 million, beating analyst estimates of $859.77 million, according to Benzinga Pro. The company reported a first-quarter adjusted loss of $1.49 per share. Total revenue was up 420% on a year-over-year basis. The company said it ended the quarter with a revenue backlog of $25.9 billion. CoreWeave noted that a strategic deal with OpenAI during the quarter added $11.2 billion in revenue backlog. The company reported $1.01 billion in operating expenses during the period, up 487% year-over-year, and ended the quarter with $1.28 billion in cash and cash equivalents. "We've delivered an outstanding start to 2025 on multiple fronts. Our strong first quarter financial performance caps a string of milestones including our IPO, our major strategic deal with OpenAI as well as other customer wins, our acquisition of Weights & Biases and many technical achievements," said Michael Intrator, co-founder and CEO of CoreWeave. "Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications. We are scaling as fast as possible to capture that demand. The future runs on CoreWeave." CoreWeave executives will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET. The company noted that it will provide forward guidance on the call. CoreWeave has operated data centers across the U.S. and Europe since 2017. The company provides access to Nvidia GPUs to large technology and AI-focused companies. CoreWeave made its public debut on the Nasdaq at $40 per share in March. CRWV Price Action: CoreWeave shares were trading at all-time highs heading into Wednesday's report, its first as a public company. The stock was up 7.92% at $68.97, according to Benzinga Pro. Read Next: Nvidia, AMD And Other Chip Stocks Gain As Trump Plans To Ease AI Chip Export Rules Photo: Shutterstock. CRWVCoreWeave Inc$68.798.74%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value13.86Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

CoreWeave Becomes First To Deploy Nvidia's GB200 Grace Blackwell Systems At Scale -- CRWV Stock Falls Over 6% Despite Beating Revenue Estimates - CoreWeave (NASDAQ:CRWV), NVIDIA (NASDAQ:NVDA)

CoreWeave Inc. CRWV, a cloud platform purpose-built for artificial intelligence workloads, has announced a leap in its technological leadership, becoming the first to deploy Nvidia Corp.'s NVDA cutting-edge GB200 Grace Blackwell systems at scale during the first quarter of 2025. What Happened: This milestone, revealed in the company's inaugural earnings call as a public entity following its March IPO, underscores CoreWeave's commitment to providing the most advanced infrastructure for AI innovation. This strategic acquisition significantly expands CoreWeave's reach within the AI ecosystem and positions it as a comprehensive solution provider for AI development, from infrastructure to developer tools. "We are off to an amazing start in 2025," said Michael Intrator, CEO of CoreWeave. "Our financial performance combined with the continued strong trajectory of customer growth and technical achievements demonstrate outstanding execution by our team. Being the first to deploy GB200 Grace Blackwell systems at scale underscores our commitment to delivering superior performance and efficiency to our customers." The deployment of Nvidia's GB200 NVL72 instances at scale on CoreWeave's AI cloud platform supports leading AI developers such as Mistral AI, IBM, and Cohere, enabling them to push the boundaries of AI model training and inference. Adding to the impressive first-quarter achievements, CoreWeave also completed its acquisition of Weights & Biases, a leading platform for AI developers. "We announced and completed our acquisition of Weights & Biases, one of the industry's leading platforms for AI developers with more than 1,400 customers. We are confident our combined companies will allow us to provide additional value to our joint customer base," CEO Intrator added. See Also: Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of 'Compound Interest' Why It Matters: The first-quarter revenue of $981.63 million was up 420% year-on-year, beating analyst estimates of $859.77 million, according to Benzinga Pro. The company reported a first-quarter adjusted loss of $1.49 per share. Get StartedStart Futures Trading Fast -- with a $200 Bonus Join Plus500 today and get up to $200 to start trading real futures. Practice with free paper trading, then jump into live markets with lightning-fast execution, low commissions, and full regulatory protection. Get Started CNBC's Jim Cramer also praised the robust earnings from CoreWeave in an X post. Looking ahead, CoreWeave provided strong guidance for the second quarter, projecting revenue in the range of $1.06 billion to $1.1 billion. The company also raised its full-year 2025 revenue guidance to $4.9 billion to $5.1 billion, reflecting the strong demand and the inclusion of the backlog from the OpenAI contract. Price Action: CRWV shares ended 6.64% higher on Wednesday and dropped 6.2% during the premarket trading. The company has advanced 68.65% since its listing in March. The SPDR S&P 500 ETF Trust SPY and Invesco QQQ Trust ETF QQQ, which track the S&P 500 index and Nasdaq 100 index, respectively, ended higher on Wednesday. The SPY was up 0.13% to $587.59, while the QQQ advanced 0.60% to $518.68, according to Benzinga Pro data. Benzinga Edge Stock Rankings shows that CRWV had a stronger price trend over the short, medium, and long term. Its value ranking was poor at the 13.86th percentile; the details of other metrics are available here. Read Next: DOE Warns Of Hidden Risks As Chinese Devices In Power Inverters Sparks National Security Concerns: 7 Stocks That Could Be In Focus Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image Via Shutterstock CRWVCoreWeave Inc$63.65-5.65%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value13.56Price TrendShortMediumLongOverviewNVDANVIDIA Corp$132.68-1.97%QQQInvesco QQQ Trust, Series 1$514.91-0.73%SPYSPDR S&P 500$584.49-0.53%Market News and Data brought to you by Benzinga APIs

CoreWeave Stock Is Volatile Thursday: What's Going On? - CoreWeave (NASDAQ:CRWV)

CoreWeave Inc CRWV reported its first quarterly results as a public company late Wednesday. Shares initially hit new highs before pulling back as the company laid out plans for heavy spending. Here's what you need to know. What To Know: CoreWeave said first-quarter revenue increased 420% year-over-year to $981.63 million, beating analyst estimates of $859.77 million. The Nvidia-backed AI infrastructure company reported an adjusted loss of approximately 60 cents per share, according to Benzinga Pro. CoreWeave said it had a revenue backlog of $25.9 billion at quarter's end, including $11.2 billion from a strategic deal with OpenAI during the first quarter. Shares hit new highs in after-hours trading, but pulled back after the company laid out spending plans on the conference call. CoreWeave said it expects capital expenditures to be between $3 billion and $3.5 billion in the second quarter, and climb to $20 billion to $23 billion in full-year 2025. The company also guided for second-quarter revenue of $1.06 billion to $1.1 billion with full-year revenue forecasted at $4.9 billion to $5.1 billion. "Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications. We are scaling as fast as possible to capture that demand," CoreWeave CEO Michael Intrator said in the earnings release. CoreWeave rents out access to Nvidia GPUs to large technology and AI-focused companies. Wednesday's report was the company's first as a public company following its public debut on the Nasdaq in late March. Following the print, Needham analyst Mike Cikos reiterated a Buy rating and maintained a price target of $55. Meanwhile, analysts at DA Davidson downgraded CoreWeave from Neutral to Underperform and set a price target of $36. Despite the cautious outlook from analysts, shares are still hovering around highs. The stock traded above $74 in extended trading before falling to around $60 in pre-market trading Thursday morning. CoreWeave shares were bouncing back a bit at the time of writing, with shares down about 1%, hovering around $66.80, according to Benzinga Pro. CoreWeave offered shares at $40 in its IPO. The stock traded as low as $33.51 in April before finding buyers and trending higher into earnings on Wednesday. As of Wednesday's close, shares were up approximately 69% from the company's IPO. The stock looks set for a volatile day of trading as investors weigh the company's high spending forecast against its strong growth outlook. Read Next: Jim Cramer Says Gulf Countries Will Become 'Largest Hyperscalers In The World' After Nvidia's 18,000 Blackwell Chip Deal Photo: PJ McDonnell/Shutterstock. CRWVCoreWeave Inc$67.930.70%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value13.56Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

CoreWeave (CRWV) Has Limited Short-Term Downside Owing To Its "Very Small Float And Very High Cost To Borrow"

This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy. CoreWeave (CRWV), a cloud-based GPU-as-a-Service provider, failed to impress investors when it announced its first quarterly earnings as a public company on Wednesday. Yet, according to one Wall Street analyst, the fallout might be limited, given CoreWeave's IPO-related equity dislocations. For the benefit of those who might not be aware, CoreWeave is a cloud company that specializes in handling GPU-intensive AI workloads. Over the past few years, the company has carved out for itself a winning niche by leveraging a unique partnership with NVIDIA, one that allows it to be among the first to offer access to NVIDIA's latest-gen GPUs at scale, all packaged within an infrastructure that has been optimized to handle AI workloads, replete with "sub-microsecond" network latency and an effective GPU lifecycle management system. Basically, CoreWeave rents out NVIDIA's latest GPUs on the cloud, packaged with various bells and whistles designed to attract AI startups. On Wednesday, CoreWeave announced its earnings for the first quarter of 2025, showing $981.632 million in revenue, which corresponds to a 14 percent beat vs. the consensus estimate. The company has also added Google as its latest hyperscaler customer. Moreover, its order backlog is currently worth $25.9 billion, and includes orders worth $11.2 billion from OpenAI alone. However, CoreWeave's guidance serially disappointed, with the company now projecting Q2 CapEx of between $3 billion and $3.5 billion on projected revenue of between $1.06 billion and $1.1 billion. What's more, the company failed to meet EPS expectations, largely due to $177 million in IPO-related stock-based compensation. For FY 2025, CoreWeave now expects $4.9 billion to $5.1 billion in revenue, operating income of between $800 million and $830 million, and CapEx of between $20 billion and $23 billion. Critically, CoreWeave's CapEx remains "lumpy" (not evenly distributed) and continues to be financed by self-amortizing debt and the newly available $1.5 billion revolver financing facility. Accordingly, DA Davidson analyst Gil Luria has now downgraded CoreWeave to an 'Underperform' rating, and pegged a stock price target of $36. For reference, the stock is currently trading at the $68 price level in today's pre-market trading session. While asserting CoreWeave's similarities with WeWork, Luria concedes that the downside for the high-flying stock remains limited for now:

CoreWeave Stock Surges To Highs Of The Session After Company Reveals Details Of OpenAI Deal - CoreWeave (NASDAQ:CRWV)

CoreWeave Inc CRWV shares surged to the highs of the session Thursday after a regulatory filing revealed an additional agreement with OpenAI. What Happened: CoreWeave shares have been volatile since the company reported first-quarter results after the market close on Wednesday. The company reported 420% revenue growth and said it had a revenue backlog of $25.9 billion at quarter's end. CoreWeave said on the conference call following the report that it expects capital expenditures to be between $3 billion and $3.5 billion in the second quarter, and rise to $20 billion to $23 billion in full-year 2025. The Nvidia-backed AI company also said it signed a $4 billion expansion with an AI enterprise on the call, but it did not disclose details or name the company. In a regulatory filing related to earnings on Thursday, the company revealed that it entered into additional agreements with OpenAI in May to provide the company with access to cloud computing capacity. CoreWeave disclosed that OpenAI has committed to pay the company up to $4 billion through April 2029 related to the agreement. Shares regained upward momentum on the news and surged to highs for the session. The stock was up 4.95% at $70.86 at the time of publication Thursday, according to Benzinga Pro. Several analysts raised price targets on CoreWeave on Thursday: Barclays analyst Raimo Lenschow maintained an Overweight rating and raised the price target from $60 to $70. Macquarie analyst Paul Golding maintained a Neutral rating and raised the price target from $56 to $65. Wells Fargo analyst Michael Turrin maintained an Equal-Weight rating and raised the price target from $50 to $60. BofA Securities analyst Brad Sills maintained a Buy rating and raised the price target from $42 to $76. Morgan Stanley analyst Keith Weiss maintained an Equal-Weight rating and raised the price target from $46 to $58. Mizuho analyst Gregg Moskowitz maintained an Outperform rating and raised the price target from $46 to $70. Photo: Shutterstock. CRWVCoreWeave Inc$69.733.36%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value13.56Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

CoreWeave Gears Up For AI Growth, But Debt Concerns May Jolt Stock, Says Analyst - CoreWeave (NASDAQ:CRWV)

Needham analyst Mike Cikos reiterated the Buy rating on CoreWeave, Inc CRWV on Thursday, with a price forecast of $55. The company reported its first quarterly results as a public company late Wednesday. CoreWeave said first-quarter revenue increased 420% year-over-year to $981.63 million, beating analyst estimates of $859.77 million. The Nvidia-backed AI infrastructure company reported an adjusted loss of approximately 60 cents per share. Cikos noted that CoreWeave's earnings highlighted a significant market opportunity and solid execution. Revenue surpassed expectations by 15%, and second-quarter guidance came in 9% above consensus at the midpoint. Also Read: Tariffs Slow Retail Spending As Producer Prices Post Sharpest Drop Since 2020 Cikos added that full-year revenue guidance was raised by 7% -- fully incorporating the first-quarter beat, the second-quarter raise, and an implied increase for the second half of the year. The analyst observed growing enterprise AI adoption, reflected in rising inference demand, which has encouraged management to accelerate investment, as data center capacity expanded from 1.3GW to 1.6GW. While Cikos sees some stock volatility as investors digest the debt implications tied to funding CapEx, the analyst highlighted that CoreWeave has excelled in securing GPUs and assembling data center infrastructure in a highly constrained power environment, enabling it to gain market share amid soaring demand for AI compute. Get StartedEarn 7.2% -- No Matter What the Fed Does Markets expect rate cuts -- but your earnings don't have to suffer. Lock in 7.2% until 2028 from ten individual bonds. Get Started He emphasized the company's bold and effective strategy for securing data center power -- now at 360 active megawatts with over 1.3GW under contract -- driven by flexible partnerships and innovative financing, including upfront CapEx to accelerate deployment timelines. Cikos writes that the market may be underestimating the longevity of CoreWeave's infrastructure returns, noting that while GPUs are depreciated over six years, management sees a cash payback period of roughly 2.5 years and average contract durations of around four years. The analyst added that the company could potentially realize value from its infrastructure well beyond the initial contract terms. Price Action: CRWV shares are trading higher by 5.08% to $70.89 at last check Thursday. Read Next: US Stocks Likely To Open Lower After S&P 500's Three-Day Winning Streak: '...Many Uncertainties Remain,' Says Expert Image: Shutterstock CRWVCoreWeave Inc$67.680.33%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value13.56Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

CoreWeave (CRWV) Stock Soars 45% This Week After Nvidia Stake, Blowout Earnings And OpenAI Deal - CoreWeave (NASDAQ:CRWV)

CoreWeave Inc CRWV surged to an all-time high Friday, up 24.9% to $82.15 and building on a 45% weekly gain. The Nvidia-backed AI cloud infrastructure provider is riding a wave of investor enthusiasm following a series of bullish catalysts. What To Know: The stock's rally accelerated after NVIDIA Corp NVDA disclosed a major stake, 24.18 million shares, in a 13F filing. Analysts responded: JP Morgan, Needham, BofA and others raised their price targets, with some as high as $76. Read Also: TSS Stock Soars 94% This Week After Q1 Earnings And AI Growth Outlook What Else: Fueling the momentum, CoreWeave reported first-quarter revenue growth of 420% year-over-year to $981.6 million, well ahead of estimates. It also revealed a $25.9 billion backlog and new agreements with OpenAI worth up to $4 billion through 2029. While the company posted a 60 cent per-share loss, it lifted full-year revenue guidance to as much as $5.1 billion. Despite warning of hefty CapEx, up to $23 billion in 2025, analysts highlighted CoreWeave's rapid market share gains and efficient GPU infrastructure deployment. CEO Michael Intrator emphasized rising AI demand and the company's aggressive expansion to meet it. CoreWeave went public in March at $40 per share. After some early volatility, the stock has more than doubled, becoming a standout AI play in 2025. Read Also: Super Micro Stock Is Rising Friday: What's Going On? How To Buy CRWV Stock By now you're likely curious about how to participate in the market for CoreWeave - be it to purchase shares, or even attempt to bet against the company. Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy "fractional shares," which allows you to own portions of stock without buying an entire share. In the case of CoreWeave, which is trading at $82.15 as of publishing time, $100 would buy you 1.22 shares of stock. If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to "go short" a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading - either way it allows you to profit off of the share price decline. According to data from Benzinga Pro, CRWV has a 52-week high of $79.23 and a 52-week low of $33.52. CRWVCoreWeave Inc$82.2225.0%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value22.88Price TrendShortMediumLongOverviewNVDANVIDIA Corp$135.240.30%Market News and Data brought to you by Benzinga APIs

Why CoreWeave Rocketed as High as 26% Today | The Motley Fool

Shares of artificial intelligence (AI) "neocloud" company and recent IPO CoreWeave (CRWV 22.09%) rocketed higher Friday morning, increasing as much as 26.3% on the day, before settling into a 22.5% gain as of 1:15 p.m. ET. It's interesting the stock had such a big jump today, as CoreWeave reported first-quarter earnings on Wednesday night, leading to a modest gain in response yesterday. However, today's delayed jump today was likely fueled by two things. First, another two sell-side analysts raised their price targets on the company. Additionally, an SEC filing showed that chipmaker Nvidia (NVDA 0.52%) raised its existing stake in the data center operator shortly after its March IPO. This morning, a couple Wall Street analysts raised their price targets on CoreWeave in the wake of first-quarter earnings. JPMorgan Chase raised its price target to $66 from $43, and Needham & Co. lifted its price target to $75 from $55. However, those price target increases likely weren't the reason for the massive jump today. After all, several other analysts raised their targets yesterday after the company reported earnings, with revenue handily beating analysts' expectations, and management raising its 2025 revenue outlook to $5 billion, above expectations for $4.6 billion. Still, yesterday's positive reaction was somewhat muted, as CoreWeave also raised its capital spending outlook to $21.5 billion at the midpoint, also well above expectations of $18.3 billion. So, the real reason behind the outsized gains today was likely a 13-F document filed by Nvidia last night. A 13-F filing is required for large hedge funds and corporations with significant equity shareholdings, which must disclose their buys and sells from the previous quarter. Last night's filing showed the AI chipmaking giant increasing its stake in CoreWeave by about 35%, from 17.9 million shares at the time of CoreWeave's IPO on March 28, to 24.2 million shares by the end of the month. Given that Nvidia is thought of as the leading company with the most expertise in AI, the fact that it increased its stake in CoreWeave likely gave investors an additional shot of confidence in the stock. CoreWeave is a difficult company to value, as it has to raise capital to build very expensive data centers before it collects "rent" on its GPUs from outside AI and cloud companies. Furthermore, it has a high customer concentration, with Microsoft accounting for 62% of revenue last year. Microsoft is actually reducing its dependence on CoreWeave, although some of that volume should be replaced by Microsoft investee OpenAI, which recently inked a deal with CoreWeave that could go as high as $11.9 billion. In addition, CoreWeave also said it had signed up a new hyperscaler customer on the earnings release, which is a good sign. CoreWeave's market cap exceeded $37 billion by midday today, which is a little more than 7 times this year's revenue projections. That seems expensive on the surface for a capital-intensive company that is still inking net losses as it scales; that being said, CoreWeave has Nvidia's backing, and if the AI revolution leads to a decade of high growth ahead, the stock could very well justify its current share price. As with all things AI, there's potentially big opportunity here, but also big risks.

CoreWeave's shares slip after it unveils AI spending plans in first results since IPO

(Reuters) -CoreWeave shares fell more than 5% in premarket trading on Thursday, after the Nvidia-backed artificial intelligence company unveiled its capital expenditure plans to meet booming demand. The data center operator, which went public in March, forecast its second-quarter capital expenditure would be in the range of $3 billion to $3.5 billion while revenue expectations were $1.06 billion to $1.1 billion. CoreWeave's management was optimistic about the demand for its services on the post-earnings call, but brokerage MoffettNathanson said "the cost of preparing to meet this demand may spook investors" who are paying a high price for the stock. CoreWeave, which leases computing capacity to technology companies and hyperscalers building AI models such as one of its prominent customers Microsoft, reported a more than five-fold increase in revenue to $981.6 million for the first three months of the year. "We have also added new enterprise customers and a new hyperscaler and signed expansion agreements with several large customers, including a recent $4 billion expansion with a large AI enterprise," CoreWeave's CEO Michael Intrator said. Its annual and second-quarter capital expenditure forecasts indicate AI spending could continue at a similar pace even as investor scrutiny sharpened after the launch of DeepSeek's low-cost AI models. Big Tech firm Meta raised its annual capital expenditure forecast, while Alphabet reaffirmed it and a Microsoft executive also re-emphasized the company's AI spending plans in a LinkedIn post in April. As of last close, CoreWeave's stock had surged 69% from the offer price in its March IPO. At least five brokerages have raised their price targets on the stock to between $50 and $70 following the results. (Reporting by Jaspreet Singh in Bengaluru; Editing by Krishna Chandra Eluri)