CoreWeave Shares Drop 6% Despite Q3 Revenue Surge, Revised 2025 Guidance
CoreWeave's stock fell 6% in after-hours trading despite reporting a 134% year-over-year revenue jump to $1.36 billion for Q3, surpassing analyst estimates of $1.29 billion. The decline followed a trimmed revenue forecast for 2025, now projected between $5.05 billion and $5.15 billion, down from prior guidance of $5.15 billion to $5.35 billion.
A delay in third-party data center development forced the downward revision, overshadowing significant contract wins including a $14.2 billion deal with Meta and a $6.5 billion expansion with OpenAI. The company anticipates capital expenditures to more than double by 2026 from its 2025 range of $12-$14 billion.
Market reaction suggests investors remain skeptical about infrastructure scalability despite CoreWeave's explosive top-line growth and high-profile partnerships in the AI compute space.
