Michael Intrater, chief executive officer of CoreWeave Inc., speaks during an interview with CNBC on the floor of the New York Stock Exchange (NYSE) on September 22, 2025 in New York City.
Jeena Chandra | Reuters
Coreview Shares of the artificial intelligence-focused cloud infrastructure provider fell 8% in extended trading Thursday after it issued light revenue guidance for the current quarter.
Here’s how the company did compared to the LSEG consensus:
- Earnings per share: A loss of 56 cents was adjusted and a loss of 49 cents was expected
- Income: $1.55 billion vs. $1.57 billion expected
CoreWeave’s revenue grew 110% year-over-year in the fourth quarter, according to a statement.
The company reported first-quarter revenue of $1.9 billion to $2 billion, below LSEG consensus of $2.29 billion.
In 2026, CoreWeave sees revenues of $12 billion to $13 billion. Analysts surveyed by LSEG had expected $12.09 billion.
Nvidia Graphics chips, the core of CoreView’s offering, remain in short supply, CoreView CEO Mike Intrater said in a conference call with analysts. Intrater said average prices for Nvidia’s H100 processors in the fourth quarter were within 10% of where they started the year, and older A100 prices were up in 20205.
CoreWeave had 850 megawatts of active power capacity at year-end, while contracted power stood at 3.1 gigawatts. Analysts surveyed by LSEG estimate around 827 MW of active power.
The company is targeting capital expenditures of $10.31 billion in 2025 to $30 billion to $35 billion in 2026. It intends to end 2026 with 1.7 gigawatts of active power, higher than Visible Alpha’s consensus of 1.59 gigawatts. 2030.
“Not only are we seeing a dispersion of demand across the economy that was initially really placed in hyperscalar clouds and foundational models,” Intrater said. “You’re seeing it explode in the enterprise now. You’re seeing it move into sovereignty. You’re seeing all these new participants starting to come in and secure the infrastructure that they need.”
Intrater said CoreView quickly resolved the delay it disclosed in November.
“We’ve brought in data center technicians across our entire portfolio so that we have enough bodies to build at peak speed,” he told CNBC in an interview, adding that third-party vendors also helped.
The revenue backlog rose to $66.8 billion from $55.6 billion at the end of the third quarter. Intrater said the length of the company’s weight contract has increased from four to five years at the end of 2024.
Adjusted earnings before interest, tax, depreciation and amortization of $898 million were below StreetAccount’s consensus of $929 million.
“We’ve made a deliberate decision to move forward and build more quickly, and that’s driven by the fact that our customers are desperate to get faster access to more infrastructure,” Intrater told CNBC. The company said it is willing to take a short-term margin hit as it adds capacity.
After going public last March, CoreView reported $21.37 billion in debt as of Dec. 31.
AI has been a major concern for software investors in recent weeks, with announcements from Anthropic leading to sharp selling.
CoreWeave caters to AI model makers Google and OpenAI, and its stock was up 36% so far in 2026 as of Thursday’s close. iShares Broadened Tech-Software Sector Exchange-Traded Fund A decrease of about 22% over the same period.
During the quarter, CoreWeave announced a deal with model builder Poolside and introduced a material collection service. The company said it increased the credit facility from $1.5 billion to $2.5 billion.
CoreWeave continues to be a specialist in cloud infrastructure, although the launch of storage will help it compete with larger entities. Amazon Web Services.
Watch: CoreView shares jump 14% intraday after news of Nvidia investment
