From CNBC: 2025-05-15 12:59:00

CoreWeave Inc., a Nvidia-backed cloud services provider, had its IPO on March 28, 2025. Shares rose over 5% after strong Q1 revenues were reported. CEO Michael Intrator revealed plans for $20-$23 billion in capex this year, including OpenAI deal effects. Some investors expressed concerns about debt and demand sustainability.

Intrator assured CNBC that financing is strong and the company can repay lenders on time. CoreWeave has major clients like Microsoft and Nvidia, with recent deals totaling nearly $12 billion from OpenAI. Analysts like DA Davidson’s Gil Luria downgraded shares due to concerns over capital destruction and short-term demand issues.

CoreWeave projects revenue growth of 363% this year, with Q2 estimates exceeding LSEG’s forecast. Revenue backlog rose 63% to $25.9 billion, with the company surpassing revenue expectations in the period. However, a net loss of $314.6 million was reported, partly due to IPO-related stock-based compensation costs.



Read more at CNBC:: CoreWeave CEO defends high capex, says it is meeting ‘demand signals’