CoreWeave Raises 2026 Outlook as Q3 Revenue Jumps 168%, Lifting Tech

CoreWeave reported third-quarter revenue of $3.66 billion, up 168% from a year earlier, and raised its 2026 outlook, Investing.com reported on November 10 and 11.

The AI cloud provider lifted its 2026 revenue forecast to $13 billion to $13.3 billion from $12 billion to $13 billion. Analysts had expected about $3.55 billion in quarterly sales. According to 24/7 Wall St. and MarketScreener, revenue backlog reached $132.5 billion, up 138%, while 24/7 Wall St. cited a quarterly net loss of $709 million. CEO Michael Intrator said CoreWeave expects $9 billion in customer prepayments and deposits over the next three months, 24/7 Wall St. reported.

Investing.com said the shares had fallen more than 40% over the prior month on concerns about debt-funded expansion. They rose nearly 13% in overnight trading and nearly 25% on Wednesday, according to separate Investing.com articles, so the size of the move varies by report.

During Asian trading, Nasdaq 100 futures rose about 1.3% and S&P 500 futures about 0.6%, Investing.com reported. SK Hynix gained 3.6%, Samsung Electronics 2.4% and TSMC 2.6%, while Hong Kong’s Hang Seng fell. Investing.com tied the weakness to hotter-than-expected October U.S. CPI, with markets pricing a quarter-point Fed hike in December. Chicago Fed’s Goolsbee called the CPI report “disturbing,” Investing.com added.

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Sources:

• Investing.com: Asian AI stocks rise as CoreWeave jumps 13% after earnings beat

• Investing.com: Asian stocks mixed as CoreWeave lifts chipmakers; hot U.S. inflation weighs

• Investing.com: Nasdaq futures jump on CoreWeave earnings; hot CPI reinforces Fed hike bets

• 24/7 Wall St.: CoreWeave jumps 16% as beat-and-raise quarter eases financing fears