[Comprehensive] CoreWeave Raises Annual Revenue Forecast, Easing Concerns Over AI Business Slowdown

‌CoreWeave has demonstrated that its revenue growth remains robust despite concerns surrounding the data center industry, presenting an annual revenue forecast of $13 billion to $13.3 billion, which exceeds both its previous guidance (up to $13.2 billion) and market expectations ($12.9 billion).
- Third-quarter revenue reached $3.66 billion, surpassing the market expectation of $3.56 billion, and the net loss per share of $1.27 was better than the expected $1.46.
- The backlog at the end of the quarter recorded $132.5 billion.
- CEO Michael Intrator stated that operating profit is growing much faster than interest expenses and projected that the company could achieve net profitability by 2028.
- Additionally, he stated that at current interest rate levels, there are no plans to raise funds in the unsecured bond market, and instead, the company plans to utilize new loans expected to receive investment-grade credit ratings as well as customer prepayments.
- However, Gil Luria, an analyst at D.A. Davidson, pointed out that CoreWeave's interest expenses significantly exceed its adjusted operating profit, indicating that there are still issues with the business structure.