Michael Intrater, CEO of Coreweave, is interviewed by CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, USA on September 22, 2025.
Gina Moon | Reuters
core weave Shares fell as much as 12% in after-hours trading Thursday after the artificial intelligence-focused cloud infrastructure provider posted fourth-quarter earnings that beat Wall Street expectations.
Here’s how the company performed compared to the LSEG consensus:
Loss per share: Loss of 89 cents. Revenue: $1.57 billion vs. $1.55 billion expected
According to the announcement, CoreWeave’s revenue for the quarter increased 110% year over year.
For all of 2026, the company expects revenue of $12 billion to $13 billion. Analysts polled by LSEG had expected $12.09 billion. CoreWeave expected 2026 adjusted operating income to be between $900 million and $1.1 billion.
The company expects first-quarter sales of $1.9 billion to $2.0 billion, below the LSEG consensus of $2.29 billion.
Nvidia Graphics chips, the core of CoreWeave’s products, remain in short supply, CoreWeave CEO Mike Intrater said on a conference call with analysts. The average price for Nvidia’s H100 processors in the fourth quarter was within 10% of the price at the beginning of the year, and prices for older A100s rose in 2020, Intrator said.
CoreWeave aims to increase capital expenditures in 2026 from $10.31 billion in 2025 to $30 billion to $35 billion.
The company ended the year with 850 megawatts of active power capacity and 3.1 gigawatts of contracted power. Analysts surveyed by LSEG expected active power to be around 827 megawatts.
CoreWeave hopes to finish 2026 with more than 1.7 GW of active power, above Visible Alpha’s consensus of 1.59 GW, and add more than 5 GW to its contracted footprint by 2030.
Accrued revenue rose to $66.8 billion from $55.6 billion at the end of the third quarter.
Adjusted earnings before interest, taxes, depreciation and amortization were $898 million, below the Street consensus of $929 million.
The company, which went public last March, reported $21.37 billion in debt as of Dec. 31.
AI has been a major concern for software investors in recent weeks, with Anthropic’s announcement leading to a sharp selloff.
CoreWeave offers the following AI model makers: google OpenAI and its stock are up 36% so far in 2026 as of Thursday’s close. iShares expands technology and software sector exchange-traded fund It’s down nearly 22% over the same period.
During the quarter, CoreWeave announced an agreement with model builder Poolside to introduce object storage services. The company also announced that it has increased its credit facility from $1.5 billion to $2.5 billion.
While CoreWeave remains a cloud infrastructure specialist, the storage launch will increase competition from larger companies such as: Amazon web service.
“In 2025, CoreWeave became the fastest cloud platform in history with over $5 billion in annual revenue,” Intrator wrote in a blog post.
Executives will hold a conference call starting at 5 p.m. ET to discuss the results and issue guidance.
WATCH: CoreWeave stock soars 14% intraday on news of Nvidia investment
