Overview
- CoreWeave stock fell about 11% after the company guided second‑quarter revenue to $2.45 billion to $2.6 billion, below Wall Street’s $2.7 billion estimate.
- The company projected operating income of $30 million to $90 million, far under the roughly $154 million analysts expected.
- Management kept its full‑year outlook unchanged, which disappointed investors looking for a stronger upgrade.
- CoreWeave rents access to AI computing power built on Nvidia chips and has landed large customers, including Meta and Anthropic.
- The company cited a backlog near $100 billion that supports demand, though investors remain wary of execution challenges and a rising debt load.