CoreWeave’s stock fell 17.3% after earnings as investors reacted negatively to a cautious outlook and indications of margin pressure despite strong growth in bookings and revenue backlog expansions.
- Revenue reached approximately $2.1 billion, up 32% quarter-over-quarter and 112% year-over-year.
- Contracted power surpassed 1 gigawatt active and 3.5 gigawatts contracted, with most new capacity expected online by end of 2027.
- New customer bookings exceeded $40 billion, pushing the contracted revenue backlog near $100 billion.
- Pricing across key GPU products (A100s, H100s, H200s, L40s) increased quarter-over-quarter amid near-term capacity sellouts.
- The company highlighted ongoing investments to broaden platform capabilities, with software, CPU, and networking ARR expected to surpass $100 million by year-end, but cautious commentary on pace and margins weighed on sentiment.
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