CoreWeave, a provider of AI infrastructure, had a successful third quarter, reporting revenue of $1.36 billion, beating expectations. The company’s revenue soared 134% from a year ago, with a net loss of $110 million. CoreWeave’s growth is attributed to its ties to the AI boom, with a backlog of $55.6 billion.

CoreWeave went public on Nasdaq in March, selling shares at $40 each. The stock closed at $105.61 on Monday, a 164% return. The company announced plans to acquire Core Scientific for $9 billion, but shareholders voted against the deal. Executives will discuss results on a conference call at 5 p.m. ET.

Read more at CNBC: CoreWeave (CRWV) Q3 earnings report 2025