CoreWeave reported better-than-expected quarterly revenue and raised its 2026 guidance on Tuesday, showing demand for AI infrastructure remains strong despite concerns about a market slowdown. The stock rose slightly in extended trading. The earnings announcement comes at a particularly volatile time for CoreWeave and its neocloud peers, as the market unravels over AI trading and as Nvidia CEO Jensen Huang, the central figure in global construction, faces a scandal linked to an affair with an alleged Chinese spy. Here’s how the company performed relative to the LSEG consensus: Earnings per share: Loss of $1.27. It is not immediately clear if the loss is comparable to the LSEG consensus of $1.16. Revenue: $3.66 billion vs. $3.55 billion expected CoreWeave’s revenue soared 168% from about $1.36 billion a year earlier, according to a statement. The company posted a net loss of $709 million, or $1.27 per share, compared with a net loss of $110 million a year earlier. Adjusted earnings exclude stock-based compensation. Executives raised their forecasts for 2026. They now see between $1.275 million and $1.375 billion in adjusted operating income on between $13.0 billion and $13.3 billion in revenue. Analysts surveyed by Visible Alpha expected $1.07 billion in adjusted operating income, and analysts surveyed by LSEG expected $12.86 billion in revenue by 2026. In August, CoreWeave projected between $960 million and $1.15 billion in adjusted operating income and between $12.4 billion and $13.2 billion in revenue. CoreWeave has lost more than 40% of its value in the last month, as investors abandon companies most closely tied to AI infrastructure. Rising interest rates have driven lenders out of the market, raising concerns about continued access to capital. Some CoreWeave bond yields recently exceeded 16%. Fellow neocloud Nebius, whose shares are down by a similar amount, is scheduled to report results on Thursday. Nebius stock got a small boost from CoreWeave’s results. Both enterprises and several other cloud-based graphics processing unit providers are especially dependent on Nvidia, which provides GPUs and the capital necessary for the entire ecosystem. Nvidia shares have fallen nearly 10% to start the week as the Huang affair increases pressure on the company in Washington, DC. Nvidia’s board of directors said Tuesday that it hired Wachtell, Lipton, Rosen & Katz to investigate Huang and determine whether national security or company secrets were compromised. CoreWeave investors are also looking ahead to next week, when key client Anthropic will debut on the Nasdaq. In its updated IPO prospectus on Tuesday, Anthropic indicated it could be valued at around $1.4 trillion after the sale of its shares. During the quarter, CoreWeave said it would establish its first data centers in Asia and announced the Forge service for running and evaluating AI models. would imply 155% growth in the middle of the range. Analysts surveyed by Visible Alpha expected $37.69 billion. CoreWeave owed nearly $47 billion at the end of the third quarter, according to the statement. Like its biggest cloud rivals, such as Amazon and Oracle, CoreWeave is rushing to bolster its customers’ computing power. But last week, voters in the US, where CoreWeave makes most of its revenue, rejected dozens of initiatives on data center development. Meanwhile, demand remains strong, and the company now has a pipeline of $132.5 billion in revenue, up from $104 billion in June. Please check back for updates. WATCH: Cramer’s Mad Dash: CoreWeave
