CoreWeave has been raising billions of dollars in debt to finance its data center buildout as it serves the leading AI companies.
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CoreWeave
reported revenue for the first quarter on Thursday that topped analysts’ estimates.
Here’s how the company did in comparison with LSEG consensus:
Revenue more than doubled in the quarter, from $981.8 million a year earlier, according to a statement. Net loss widened to $740 million from $315 million, or $1.49 per share, in the same quarter a year ago.
On top of deals with Meta and OpenAI, CoreWeave pointed to expansions from a large unnamed customer in the third quarter.
CoreWeave expanded its business with OpenAI during the second quarter.
CoreWeave is now sitting on a backlog of nearly $67 billion in revenue, with business from Meta and OpenAI.
Nvidia-backed AI data center company CoreWeave reports earnings for the first time since its volatile public debut in March.
All eyes were on the datacenter operator’s RPO figure, which matched Wall Street’s $50 billion-$60 billion expectations.
The chip giant deepens its partnership with CoreWeave to accelerate the buildout of massive AI data centers as artificial…
