The key facts

  • CoreWeave's revenue for July–September grew 168% to $3.66 billion
  • Net loss widened to $709 million, interest expenses rose to $846 million
  • 2026 revenue forecast raised to $13–13.3 billion, capital expenditures to $37–39 billion

Revenue Growth and Raised Forecast

US artificial intelligence cloud services provider CoreWeave reported a sharp increase in third-quarter revenue: for July–September it reached $3.66 billion, up from $1.37 billion a year earlier — an increase of 168%. Following the report, the company raised its 2026 revenue forecast to a range of $13–13.3 billion, and its adjusted operating income forecast to $1.275–1.375 billion. The lower bound of the capital expenditure forecast was also raised: the company expects to spend $37–39 billion.

Loss Widens Amid Expensive Financing

Despite revenue growth, CoreWeave's net loss widened to $709 million, or $1.27 per share, from $110 million, or 22 cents per share, a year earlier. Interest expenses rose to $846 million from $310 million, reflecting the high cost of financing infrastructure. At the same time, operating income grew to $207 million from $52 million, and adjusted operating income came to $379 million.

Market Reaction and Company Plans

CoreWeave shares rose 13.5% in premarket trading as of 09:40 GMT on Wednesday. According to the report, the improved forecast helped ease concerns about the sustainability of demand for AI infrastructure and its financing. Along with CoreWeave, other AI cloud companies also gained: Nebius added 11.4%, IREN — 7.9%. Chief Executive Officer Michael Intrator called the quarter a breakthrough, pointing to diversified funding sources and about $9 billion in customer prepayments and deposits expected over the next three months. The company's order backlog at the end of September stood at approximately $132.5 billion.