CoreWeave's third-quarter revenue rises 168% to $3.66 billion and it raises its 2026 forecast
The AI cloud now expects $13 billion to $13.3 billion in 2026 revenue, while its quarterly net loss widened to $709 million as financing costs weigh.
Why it matters
CoreWeave rents Nvidia GPUs to AI labs and is a bellwether for whether AI infrastructure spending holds up; its shares had lost more than 40% in a month as investors soured on heavily indebted neoclouds. The new forecast beats analyst estimates of $12.86 billion. Executives said most 2027 capital needs will come from customer prepayments and hardware partners such as Nvidia, and that the company does not plan more parent-level unsecured debt at current yields. Watch Nebius's results on Thursday.
Key facts
- Q3 revenue $3.66 billion, up 168%
- Analysts expected $3.55 billion
- Net loss $709 million, from $110 million a year earlier
- 2026 revenue forecast raised to $13 billion to $13.3 billion
- Previous forecast was $12.4 billion to $13.2 billion
- Shares rose more than 5% in late trading