Coreweave Raises Outlook as AI Demand Fuels Growth

WHO:

CNBC - CoreWeave Inc. reported quarterly results; CEO Michael Intrator is pictured in the article.

CNBC - The company’s customers include Anthropic; its cloud-based GPU competitors include Nebius.

CNBC - Nvidia supplies GPUs and capital to CoreWeave and other providers. Nvidia CEO Jensen Huang and Nvidia’s board are mentioned.

Bloomberg Markets - Vonnie Quinn, Jess Menton, Carol Massar, and Tim Stenovec hosted Bloomberg’s U.S. market-close coverage.

WHAT:

CNBC - CoreWeave reported revenue of $3.66 billion, above the $3.55 billion LSEG estimate and up 168% from about $1.36 billion a year earlier.

CNBC - The company reported a net loss of $709 million, or $1.27 per share, compared with a $110 million net loss a year earlier. The article said it was unclear whether the per-share loss was comparable with LSEG’s $1.16 consensus.

CNBC - CoreWeave raised its 2026 forecast to $13 billion–$13.3 billion in revenue and $1.275 billion–$1.375 billion in adjusted operating income. Earlier projections were $12.4 billion–$13.2 billion and $960 million–$1.15 billion, respectively.

CNBC - Analysts expected $12.86 billion in 2026 revenue, according to LSEG, and $1.07 billion in adjusted operating income, according to Visible Alpha.

CNBC - CoreWeave’s revenue backlog was $132.5 billion, up from $104 billion as of June.

CNBC - The company said it would establish its first data centers in Asia and announced Forge, a service for running and evaluating AI models.

CNBC - CoreWeave expected 1.85 gigawatts of active power by the end of 2026 and targeted $37 billion–$39 billion in full-year capital expenditures; Visible Alpha analysts expected $37.69 billion.

CNBC - CoreWeave owed almost $47 billion in debt at the end of the third quarter. Some of its bond yields recently exceeded 16%.

CNBC - CoreWeave’s stock rose slightly in extended trading. It had lost more than 40% of its value over the preceding month. Nebius shares, also down by a similar amount, received a small boost after CoreWeave’s results.

CNBC - Nvidia shares had fallen nearly 10% at the start of the week. Nvidia’s board said it hired Wachtell, Lipton, Rosen & Katz to investigate Huang and determine whether national security or company secrets were compromised.

Techmeme - CNBC reporter Jordan Novet’s summary likewise reported third-quarter revenue of $3.66 billion, a $709 million net loss, and a $132.5 billion backlog.

WHERE:

CNBC - CoreWeave said it would establish its first data centers in Asia; the company derives most of its revenue from the United States.

CNBC - Intrator was pictured during a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland.

WHEN:

CNBC - CoreWeave’s 2026 guidance covers revenue and adjusted operating income; management anticipated reaching 1.85 gigawatts of active power by the end of 2026.

CNBC - Executives were scheduled to discuss the results with analysts on a conference call starting at 5 p.m. ET.

WHY:

CNBC - CNBC attributed the stronger revenue outlook to robust demand for AI infrastructure, amid concerns about a market slowdown.

CNBC - The article said rising interest rates had pushed lenders out of the market, raising concerns about CoreWeave’s access to capital.

CNBC - It reported that investors were rotating away from companies closely tied to AI infrastructure.

HOW:

CNBC - CoreWeave’s adjusted earnings exclude stock-based compensation.

CNBC - CoreWeave was expanding computing capacity for clients and targeting $37 billion–$39 billion in capital expenditures.

(UPDATED November 10, 2026 23:02 UTC)

CoreWeave revenue surged 168% to $3.66 billion, beating expectations, while its net loss widened to $709 million. The company raised its 2026 outlook, citing strong AI infrastructure demand.