Michael Intrater, CEO of Coreweave, is interviewed by CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, USA on September 22, 2025.
Gina Moon | Reuters
coreweave Shares fell 8% in after-hours trading Thursday after the artificial intelligence-focused cloud infrastructure provider issued a lower earnings outlook for the current quarter.
Here’s how the company performed compared to the LSEG consensus:
Loss per share: 89 cents. This may not compare to LSEG’s consensus loss of 49 cents. Revenue: $1.57 billion vs. $1.55 billion expected
According to the announcement, CoreWeave’s fourth quarter revenue increased 110% year over year.
The company expects first-quarter sales of $1.9 billion to $2.0 billion, below the LSEG consensus of $2.29 billion.
For all of 2026, CoreWeave expects revenue of $12 billion to $13 billion. Analysts polled by LSEG had expected $12.09 billion.
Nvidia Graphics chips, the core of CoreWeave’s products, remain in short supply, CoreWeave CEO Mike Intrater said on a conference call with analysts. The average price for Nvidia’s H100 processors in the fourth quarter was within 10% of the price at the beginning of the year, and prices for older A100s rose in 2020, Intrator said.
CoreWeave had 850 megawatts of active power capacity and 3.1 gigawatts of contracted power at year-end. Analysts surveyed by LSEG expected active power to be around 827 megawatts.
The company aims to increase capital spending in 2026 from $10.31 billion in 2025 to $30 billion to $35 billion. The company finished 2026 with more than 1.7 GW of active power, exceeding Visible Alpha’s consensus of 1.59 GW, and plans to add more than 5 GW to its contracted footprint by 2030.
“It’s not just that the demand that originally existed within hyperscaler cloud and infrastructure models is exploding across the economy,” Intrater said. “Now we’re seeing it exploding within enterprises. We’re seeing it moving into sovereign states. We’re seeing all these new participants start coming in and securing the infrastructure that they need.”
Intrater said CoreWeave quickly resolved the delays it disclosed in November.
“We brought in data center technicians from across our portfolio and made sure we had enough organization to build at top speed,” he said in an interview with CNBC, adding that third-party vendors also helped.
Accrued revenue rose to $66.8 billion from $55.6 billion at the end of the third quarter. Intrater said the company’s weighted contract period has been extended from four years to five years at the end of 2024.
Adjusted earnings before interest, taxes, depreciation and amortization were $898 million, below the Street consensus of $929 million.
“We made a conscious decision to build faster, and that’s driven by the fact that our clients are hungry for access to more infrastructure faster,” Intrater told CNBC. He said the company is willing to accept lower short-term margins as it adds capacity.
After going public last March, Coreweave reported $21.37 billion in debt as of Dec. 31.
AI has been a major concern for software investors in recent weeks, with Anthropic’s announcement leading to a sharp selloff.
CoreWeave offers the following AI model makers: google OpenAI and its stock are up 36% so far in 2026 as of Thursday’s close. iShares expands technology and software sector exchange-traded fund It’s down nearly 22% over the same period.
During the quarter, CoreWeave announced an agreement with model builder Poolside to introduce object storage services. The company also announced that it has increased its credit facility from $1.5 billion to $2.5 billion.
While CoreWeave remains a cloud infrastructure specialist, the storage launch will increase competition from larger companies such as: Amazon web service.
WATCH: CoreWeave stock soars 14% intraday on news of Nvidia investment
