CoreWeave, Inc. Class A Common Stock

CoreWeave, Inc. Class A Common Stock Earnings Recaps

CRWV 1 recap
Q3 2025 Nov 11, 2025

CoreWeave, Inc. delivered exceptional Q3 2025 results, achieving $1.4 billion in revenue—a remarkable 134% year-over-year increase—while significantly expanding its revenue backlog and power capacity amid soaring demand for AI cloud services.

Key takeaways
  • Revenue backlog increased by over $25 billion in Q3, totaling more than $55 billion at quarter-end, nearly double the previous quarter.
  • CoreWeave reached $50 billion in remaining performance obligations (RPO), the fastest in cloud history.
  • Expanded power footprint by 120 megawatts to approximately 590 megawatts, with contracted capacity now at 2.9 gigawatts.
  • Secured large-scale contracts with major clients like Meta and OpenAI, enhancing revenue diversification.
  • Launched CoreWeave Federal to serve U.S. government agencies, beginning collaborations with NASA for scientific exploration.
Full recap