Key Points:
- CoreWeave Stock Q3 Revenue: $1.36B, beating Wall Street forecasts on strong AI cloud demand.
- Backlog Growth: Revenue backlog surged to $55B, driven by major clients like OpenAI.
- Stock Drop: Shares fell 7–11% after guidance cuts and data center delays.
CoreWeave stock (NASDAQ: CRWV) fell more than 6% in extended trading on Monday after the artificial intelligence infrastructure company revised its full-year guidance. The adjustment followed a delay involving one of its third-party data center providers, which temporarily impacted delivery schedules.
Despite the short-term setback, CoreWeave reported record third-quarter revenue and highlighted strong demand for its AI cloud services. CEO Michael Intrator said the company’s position as “the essential cloud for AI” remains stronger than ever.
Record Revenue and Narrowed Losses
For the third quarter of fiscal 2025, CoreWeave posted revenue of $1.37 billion, surpassing market expectations of $1.28 billion. The company’s adjusted loss per share stood at $0.22, better than the estimated $0.36 loss. This marks a sharp improvement from last year’s $1.82 loss per share.
CFO Nitin Agrawal credited the results to disciplined execution and rising customer demand. However, the company’s adjusted EBITDA margin slipped to 61%, down from 65% a year ago. Intrator emphasized that no single data center provider accounted for more than 20% of CoreWeave’s contracted portfolio, highlighting diversified operations.
“Our performance reflects disciplined execution across every part of our business—from Some traders viewed the drop in CoreWeave stock as an opportunity and expanding capacity to deepening customer relationships,” Intrator said during the company’s earnings call.
Adjusted Guidance and Operational Impact
CoreWeave stock revised its full-year revenue forecast to a range of $5.05 billion to $5.15 billion, down slightly from its earlier projection of up to $5.35 billion. The company also cut its adjusted operating income outlook to between $690 million and $720 million, compared to the previous range of $800 million to $830 million.
The revision was attributed to the delay in power shell delivery linked to a third-party data center provider. CoreWeave clarified that the affected customer has agreed to modify the delivery timeline, ensuring the total value of the original contract remains unchanged.
Capital expenditure (Capex) for 2025 is now expected to range between $12 billion and $14 billion, down from the prior forecast of $20 billion to $23 billion. The company expects to end the year with over 850 megawatts of active power once all systems are operational.
“These delays are temporary,” Agrawal said. “The customer has agreed to adjust the delivery schedule while maintaining the total value of the agreement.”
Market Reaction and Investor Sentiment
Although the revised guidance prompted a dip in share price, retail sentiment toward CoreWeave stock turned positive following the earnings release. On Stocktwits, investor sentiment shifted from “bearish” to “extremely bullish” by late Monday, with message activity rising by nearly 4,000% in 24 hours.
Some traders viewed the drop in CoreWeave stock as an opportunity, calling it a potential “generational” buying moment, while others attributed the decline to the company’s lower operating margin. Despite the short-term volatility, CoreWeave’s stock has surged nearly 170% in 2025, reflecting investor confidence in the company’s long-term AI infrastructure strategy.
At the close of Monday’s session, CoreWeave shares rose 1.54% to $105.61 before declining in after-hours trading. The stock has traded between $33.50 and $187 over the past year, signaling strong momentum despite periodic fluctuations.
CoreWeave stock leadership reaffirmed its commitment to scaling infrastructure and expanding its AI capabilities, positioning the company to continue leading in the rapidly growing cloud computing market.
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