CoinDesk
CoreWeave shares rose 14% in premarket trading after the AI infrastructure company reported third-quarter revenue of $3.66 billion, up 168% from a year earlier. It raised its full-year revenue forecast to $13 billion to $13.3 billion.
The results also showed a widening net loss of $709 million, or $1.27 per share.
Why it matters
The earnings update helped lift sentiment across battered AI stocks, alongside plans for a higher Anthropic IPO valuation. Bankers are considering a valuation of $1.5 trillion or more following strong investor demand, above the roughly $1.4 trillion target disclosed Tuesday.
Market impact
Memory stocks led the tech recovery as Nasdaq futures climbed 2%. Bitcoin edged higher after testing its 200-day moving average near $73,116, but remained just below $74,000.
Frequently asked questions
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How fast did CoreWeave's quarterly revenue grow?
Third-quarter revenue rose 168% from a year earlier to $3.66 billion.
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What is CoreWeave's new full-year revenue forecast?
CoreWeave raised its full-year revenue forecast to between $13 billion and $13.3 billion.
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Was CoreWeave profitable in the third quarter?
No. Its quarterly net loss widened to $709 million, or $1.27 per share.
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What Anthropic IPO valuation are bankers considering?
Bankers are considering a valuation of $1.5 trillion or more following strong investor demand, above the roughly $1.4 trillion target disclosed Tuesday.
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Where was Bitcoin trading after testing its 200-day moving average?
Bitcoin edged higher after testing its 200-day moving average near $73,116, but remained just below $74,000.
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