Overview
- CoreWeave posted Q1 revenue of $2.078 billion, more than doubling from a year ago, alongside a $740 million net loss and adjusted EBITDA of $1.157 billion.
- The company forecast Q2 revenue of $2.45–$2.6 billion, below analysts’ roughly $2.7 billion view, and the stock fell about 9.27% in after-hours trading.
- Signed revenue backlog reached $99.4 billion, signaling strong, contracted demand for its GPU-powered cloud used to train and run AI models.
- Operational scale advanced as effective power passed 1 gigawatt with more than 3.5 gigawatts contracted, and management is targeting over 8 gigawatts by 2030.
- CoreWeave highlighted new scale drivers, citing a reported $21 billion agreement with Meta, a multi-year partnership with Anthropic, $8.5 billion in non-recourse term loans, and a $2 billion equity investment from NVIDIA.