In Q1, CoreWeave’s revenue surged to 981.6 million USD, five times higher than the previous year. However, the company faced a net loss of 314 million USD, raising concerns about profitability amid rising operational costs and a projected 23 billion USD in capital expenditures.
Following the earnings report, CoreWeave’s shares initially rose by 6.6% to 67.46 USD before falling by 7.8% in after-hours trading. CEO Mike Intrator stressed the importance of rapid scaling to meet increasing AI demand, as the company races to optimize its infrastructure.
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