CoreWeave is now sitting on a backlog of nearly $67 billion in revenue, with business from Meta and OpenAI.
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CoreWeave
shares fell as much as 8% in extended trading on Thursday after the artificial intelligence-focused cloud infrastructure provider posted higher fourth-quarter revenue than Wall Street had expected.
Here’s how the company did in comparison with LSEG consensus:
CoreWeave’s revenue grew 110% year over year in the quarter, according to a statement.
On top of deals with Meta and OpenAI, CoreWeave pointed to expansions from a large unnamed customer in the third quarter.
CoreWeave has been raising billions of dollars in debt to finance its data center buildout as it serves the leading AI companies.
CoreWeave expanded its business with OpenAI during the second quarter.
Nvidia-backed AI data center company CoreWeave reports earnings for the first time since its volatile public debut in March.
CoreWeave has secured more business from Nvidia, which is an investor in the company and its main source of chips for running AI…
All eyes were on the datacenter operator’s RPO figure, which matched Wall Street’s $50 billion-$60 billion expectations.
