Overview

• CoreWeave's Q1 revenue reached $981.6 million, a 420% year-over-year increase, surpassing analyst expectations of $853 million.
• The company disclosed a new $4 billion agreement with OpenAI, bringing its total revenue backlog to $25.9 billion.
• CoreWeave projects 2025 capital expenditures of $20–23 billion, exceeding analyst estimates and raising questions about profitability.
• Shares have climbed 68% since the March IPO, though recent volatility reflects mixed reactions to its aggressive spending plans.
• CEO Michael Intrator emphasized strong demand for AI infrastructure, citing partnerships with major clients like Microsoft, OpenAI, and Nvidia.