CoreWeave Shares Jump 14% After Revenue Doubles to $2.58 Billion
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowCoreWeave (CORE) stock rose 14% following the company's report showing revenue of $2.58 billion for the latest quarter, beating Wall Street's expectation of $2.56 billion. The company’s revenue climbed 112% year-over-year, despite a net loss of $626 million. CoreWeave's revenue backlog is now $104 billion, alongside new commitments exceeding $25 billion. For the upcoming third quarter, CoreWeave projects revenue between $3.4 billion and $3.6 billion, suggesting significant growth potential, which is crucial for investors looking at trends in AI infrastructure demand.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
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