Overview
- The company reported about $2.08–$2.1 billion in Q1 revenue, beating Wall Street expectations by a wide margin.
- Contracted backlog grew roughly 284% year over year to nearly $100 billion, pointing to multi‑year orders from large AI customers.
- CoreWeave runs data centers packed with Nvidia GPUs and rents computing power to firms like Meta and Microsoft for generative AI work.
- Losses continued with EPS at -$1.12 as technology and infrastructure spending jumped 127% to $1.27 billion, and expansion relies on debt.
- Guidance calls for $2.45–$2.6 billion in Q2 revenue and operating income near $90 million, while Deutsche Bank raised its price target to $135 and Jim Cramer flagged high volatility.