From NBC Universal: 2025-05-14 16:47:00

Mike Intrator, CEO of CoreWeave, testified at a Senate hearing on artificial intelligence. CoreWeave, an AI infrastructure provider, surpassed revenue expectations in its first earnings report since going public. Quarterly revenue reached $981.6 million, a 420% increase from a year ago. The company’s net loss widened to $314.6 million due to stock-based compensation costs. CoreWeave competes with Nvidia in renting out GPU access and secured a $11.9 billion deal with OpenAI. Despite some skepticism, Wells Fargo suggests holding onto the stock. CoreWeave debuted on Nasdaq in March after Nvidia anchored its IPO at $40. Conference call at 5 p.m. ET.



Read more at NBC Universal:: CoreWeave (CRWV) Q1 2025 earnings report