CoreWeave reported Q3 revenue up 167% YoY to $3.66bn vs. $3.55bn expected;
adjusted loss per share $1.27 vs. $1.46 expected. The company raised full-year
revenue guidance to $13.0–13.3bn from $12.4–13.2bn. Shares jumped as much as
8.7% in after-hours trade, later trimming gains to about 2%; the stock fell >40%
over the past month and is down 32% YTD. CoreWeave faces heavy leverage — debt
exceeded $50bn at end-June and its 2030 notes yield roughly 15.2%. Management
says capex is tied to signed customer contracts and supported by customer
prepayments, and that current backlog can cover debt obligations. Microsoft has
said some emerging cloud providers’ data center projects are delayed and under
tighter oversight; several officials elected in the US midterms have signaled
intentions to slow or block data center builds, raising sector expansion
uncertainty. CoreWeave plans to broaden revenue via new services and Asia
expansion.
