CoreWeave stock jumps 15% premarket after Q3 revenue beats estimates
Summary
CoreWeave shares rose 15.27% in premarket trading after the AI cloud provider reported third-quarter revenue of $3.66 billion, up 168% year over year and 3.4% above analyst expectations. Its revenue backlog reached about $132.5 billion, based on existing customer contracts and subject to delivery and service availability. CoreWeave has multiyear infrastructure agreements with Anthropic and Jane Street. The company began as a crypto miner before pivoting to AI infrastructure in 2019.
