CoreWeave Shares Surge 25% Following Strong Quarterly Earnings and Raised Guidance
CoreWeave (CRWV) shares jumped 24.71% to close at $60.77 after the specialized cloud infrastructure provider reported a significant quarterly beat. The company reported revenue of $3.66 billion and raised its full-year revenue guidance to a midpoint of $13.15 billion, up from previous estimates of $12.8 billion. The earnings report addressed investor concerns regarding financing and AI demand. CEO Michael Intrator noted that the company expects $9 billion in customer prepayments and deposits over the next three months, providing multiple sources of funding for continued expansion. This performance also lifted sector peers like Nebius Group (NBIS) and Applied Digital (APLD).
Topics: AI infrastructure cloud computing earnings report revenue growth stock price surge