CoreWeave Raises Revenue Forecast to $13.3 Billion After 168% Income Growth

The American company CoreWeave, which provides cloud computing power for artificial intelligence (AI), raised its 2026 revenue forecast to $13–13.3 billion after publishing its third-quarter results. Revenue for July – September reached $3.66 billion, increasing by 168% compared to the same period in 2025.

The result exceeded the company's own forecast of $3.45–3.60 billion. Following the report, CoreWeave's shares (CRWV) rose by 7.9% in the after-hours session on November 10, reaching $52.58 compared to $48.73 at the close of regular trading.

The rise followed a significant decline in stock prices the previous week. On November 5, the company's shares lost 9.83% during the session and hit a 52-week low of $40.58. On the same day, the Nasdaq 100 index fell by 6.36% amid a large-scale sell-off of technology stocks.

CoreWeave's revenue grew, but interest expenses increased

Despite the revenue growth, CoreWeave ended the third quarter with a net loss of $709 million compared to $110 million a year earlier. The loss per share was $1.27, which was better than the consensus forecast of analysts who expected losses of about $1.45 per share.

The company's operating profit reached $207 million. However, net interest expenses increased from $310 million to $846 million over the year, significantly exceeding the operating result.

As of September 30, CoreWeave's expected revenue portfolio from client contracts increased to $132.5 billion compared to $104 billion at the end of June. This figure reflects the volume of future services under existing client obligations but does not mean that the company has already received the corresponding funds.

The company expects $9 billion in client prepayments

CoreWeave also revised its forecast for adjusted operating profit for 2026 to $1.275–1.375 billion. The average value of the new range exceeds the previous target by 26%.

At the same time, the company raised the lower bound of its capital expenditure forecast for 2026 from $35 billion to $37 billion. The expected range is now $37–39 billion. These expenses are related to the expansion of computing infrastructure and the earlier commissioning of capacities for clients.

CoreWeave CEO Michael Intrator stated that over the next three months, the company expects to receive about $9 billion in client prepayments and deposits. According to him, these inflows, along with financing from equipment suppliers, will help cover a significant portion of capital needs in 2027.

Meanwhile, the financial burden continues to grow. For the fourth quarter, CoreWeave forecasts interest expenses of $1.05–1.15 billion compared to $846 million in the third quarter.

CFO Nitin Agarwal stated that at the current cost of borrowing, the company does not plan to issue new unsecured debt at the parent structure level until the end of 2027. Instead, CoreWeave intends to more actively use financing secured by assets and client contract obligations.

Thus, the demand for computing power allows CoreWeave to increase revenue and financial forecasts. However, future results will depend on the company's ability to expand infrastructure, fulfill contracts, and control rising debt servicing costs.