Business · Companies · 1 hr ago
CoreWeave beats revenue expectations and raises its annual forecast
US cloud provider CoreWeave reported stronger-than-expected results for the third quarter.
Revenue rose to $3.66 billion from $1.37 billion a year earlier, beating analysts’ average estimate of $3.55 billion.
The company raised its annual revenue forecast to $13.0 billion to $13.3 billion, from a previous range of $12.4 billion to $13.2 billion.
CoreWeave’s shares rose more than 7% in after-hours trading, after losing more than 40% in October amid fears of an AI bubble.
Investors have also worried about the company’s heavy borrowing, used to buy chips, land and energy for AI data centres.
The results eased concerns about demand for AI infrastructure, but the company has never reported a profit and had more than $50 billion in debt in June.
CoreWeave reported third-quarter revenue of $3.66 billion, above analysts’ average estimate of $3.55 billion.
The company raised its full-year revenue forecast to $13.0 billion-$13.3 billion, from $12.4 billion-$13.2 billion.
Revenue was more than twice the $1.37 billion reported in the same quarter a year earlier.
CoreWeave posted a net loss of $709 million for the quarter.
Investors have raised concerns about the company’s heavy debt and the risk of a bubble in artificial intelligence investment.
- Who
- CoreWeave, a US cloud provider backed by Nvidia.
- What
- It reported third-quarter revenue above analysts’ expectations and raised its full-year revenue forecast.
- When
- The company announced the results on November 10, 2026.
- Where
- Not stated
- Why
- Revenue growth eased concerns about weakening demand for AI infrastructure. Investors remain concerned about the company’s debt and the possibility of an AI bubble.
CoreWeave
Investors concerned about debt and an AI bubble
Business performance
CoreWeave
CoreWeave reported quarterly revenue of $3.66 billion, above analysts’ average estimate of $3.55 billion.
Investors concerned about debt and an AI bubble
Investors were concerned about CoreWeave’s high debt and the possibility of a bubble in AI.
Outlook and market reaction
CoreWeave
The company raised its full-year revenue forecast to $13.0 billion-$13.3 billion.
Investors concerned about debt and an AI bubble
CoreWeave’s shares had lost more than 40% of their value in October amid those concerns.
CoreWeave shares lost more than 40% of their value amid concerns about debt and a possible AI bubble.
CoreWeave announced third-quarter results and raised its annual revenue forecast.
CoreWeave shares rose more than 7% in after-hours trading.
- Third-quarter revenue
- $3.66 billion
- Analysts’ average revenue estimate
- $3.55 billion
- Full-year revenue forecast
- $13.0 billion-$13.3 billion
- Third-quarter net loss
- $709 million
- Debt reported in June
- More than $50 billion