CoreWeave Revenue Soars on AI Demand, But Heavy Spending Hits Profit

CoreWeave’s first-quarter revenue skyrocketed to $981.6 million, marking a fivefold increase year-over-year, as demand for AI computing power surges across the sector. The company’s net loss, however, deepened to $314 million amid aggressive expansion efforts.

Shares initially climbed 6.6% to $67.46 post-earnings but retreated 7.8% in after-hours trading. CoreWeave went public in March at $39 per share, reflecting volatile investor sentiment toward its high-growth, high-spend strategy.

Management forecasts up to $23 billion in 2025 capital expenditures—far exceeding analyst projections—as it races to build infrastructure for the AI boom. "We’re scaling as fast as possible," CEO Mike Intrator stated, underscoring the company’s bet on sustained demand for computational resources.