CoreWeave stock pops 14% as revenue doubles on accelerating AI infrastructure demand

JUST IN: $CRWV jumps 14% after CoreWeave's revenue doubles on surging AI infrastructure demand, though the company is now sitting on $35 billion in debt.

CoreWeave's revenue just doubled and the stock popped fourteen percent after hours.

The AI cloud builder beat Wall Street across the board, and the earnings desks lit up tonight, you can see the reaction here. The backlog now sits at a hundred and four billion dollars, and that doesn't even count another twenty five billion in fresh commitments. Meta alone said it'll spend an extra twenty one billion with them, Anthropic signed a multi-year deal, and Jane Street put in six billion. All of it runs on Nvidia chips, which is exactly where the catch lives.

Because here's what made me blink. CoreWeave lost six hundred and twenty six million dollars this quarter, more than double last year's loss, and it's carrying thirty five billion in debt to pay for all that hardware. Growth like this is thrilling right up until the interest bill arrives.

So the real bet isn't the pop, it's the bottom line.

This is Sara White, reporting for HIT.

Source Read the original reporting at cnbc.com