Michael Intrator, CEO of CoreWeave Inc., speaks during an interview with CNBC at the New York Stock Exchange (NYSE) in New York, United States, September 22, 2025.
Jeenah Moon | Reuters
CoreWeave Shares fell 8% in extended trading Thursday after the artificial intelligence-focused cloud infrastructure provider provided slight revenue guidance for the current quarter.
Here’s how the company performed against the LSEG consensus:
Loss per share: 89 cents. This might not compare to the LSEG consensus of a loss of 49 cents.Income: $1.57 billion versus $1.55 billion expectedCoreWeave’s revenue grew 110% year-over-year in the fourth quarter, according to a statement.
The company reported first-quarter revenue of between $1.9 billion and $2 billion, below the LSEG consensus of $2.29 billion.
For all of 2026, CoreWeave sees revenue of $12-13 billion. Analysts surveyed by LSEG expected $12.09 billion.
Nvidia Graphics chips, which are the core of CoreWeave’s offering, remain in short supply, CoreWeave CEO Mike Intrator said on a conference call with analysts. Average prices for Nvidia’s H100 processors in the fourth quarter were 10% lower than at the start of the year, and prices for older A100s increased in 20205, Intrator said.
CoreWeave had an active power capacity of 850 megawatts at the end of the year, while contracted power stood at 3.1 gigawatts. Analysts surveyed by LSEG predicted active power of around 827 megawatts.
The company is targeting capital spending of $30 billion to $35 billion for 2026, up from $10.31 billion in 2025. It intends to end 2026 with more than 1.7 gigawatts of active power, which is above Visible Alpha’s consensus of 1.59 gigawatts, and to add more than five gigawatts beyond its contracted footprint by 2030.
“Not only are we seeing a proliferation of demand across the economy, moving away from what was initially housed in hyperscaler clouds and commodity models,” Intrator said. “You’re seeing it now kind of explode within the enterprise. You’re seeing it become sovereign. You’re seeing all these new participants starting to come in and secure the infrastructure that they need.”
CoreWeave quickly resolved the delays revealed in November, Intrator said.
“We brought in data center technicians from across our portfolio, so we had enough bodies to build at maximum speed,” he told CNBC in an interview, adding that third-party vendors also helped.
The revenue backlog increased from $55.6 billion at the end of the year to $66.8 billion. third trimester. The company’s blended contract duration increased from four years to five years at the end of 2024, Intrator said.
Adjusted earnings before interest, taxes, depreciation and amortization, at $898 million, fell short of StreetAccount’s consensus of $929 million.
“We made an intentional decision to move forward and build faster, and that’s driven by the fact that our customers are desperate to get access to more infrastructure faster,” Intrator told CNBC. He said he was prepared to accept a short-term margin decline as the company increases capacity.
After go public Last March, CoreWeave reported debt of $21.37 billion as of December 31.
AI has become a major concern for software investors in recent weeks, with Anthropic announcements leading to strong sales.
CoreWeave provides AI model builders such as Google and OpenAI, and its stock was up 36% so far in 2026 as of Thursday’s close, while the iShares Broader Technology Software Sector Exchange Traded Fund is down almost 22% during the same period.
During the quarter, CoreWeave announced an agreement with a model builder By the pool and introduced a object storage service. The company also said it increased credit facility from $1.5 billion to $2.5 billion.
CoreWeave continues to be a cloud infrastructure specialist, although the storage launch will help it compete with larger entities, such as Amazon Web Services.
WATCH: CoreWeave shares jump 14% intraday after Nvidia investment announcement