CoreWeave shares plunge after earnings miss and weak guidance
Updated
Updated · MarketWatch · May 7
CoreWeave shares plunge after earnings miss and weak guidance
12 articles · Updated · MarketWatch · May 7
The stock fell 9% after hours as first-quarter revenue rose to $2.08 billion, but loss per share was $1.40 and adjusted net loss reached $589 million.
Second-quarter revenue guidance of $2.45 billion to $2.6 billion missed Wall Street forecasts, while full-year capital spending was lifted to $31 billion-$35 billion on higher AI component costs.
CoreWeave said bookings were its strongest ever, with backlog near $100 billion and 2026 capacity sold out, but margins compressed sharply as it races to add data-centre capacity.
With a $99B backlog but soaring debt, is CoreWeave building the future of AI or a house of cards?
As clients like Meta build their own AI chips, can CoreWeave survive its biggest partners becoming competitors?