CoreWeave Stock Drops Over 11% After Earnings Despite Strong Revenue Growth
Shares of AI cloud infrastructure provider CoreWeave fell more than 11% following its first-quarter earnings report, despite revenue growing over 100% year-over-year and a near $100 billion contracted backlog. The stock's decline was attributed to weaker-than-expected second-quarter guidance, rising capital spending plans, and continued bottom-line deterioration.
Topics: AI infrastructure guidance revenue growth stock performance