Overview

• CoreWeave reported second-quarter revenue of $1.21 billion versus $1.08 billion expected and stated a backlog of $30.1 billion.
• The company posted a net loss of $290.5 million, surpassing the $190.6 million estimate, as operating expenses jumped to $1.19 billion and margins shrank to about 2 percent.
• Shares fell between 6 percent and 10 percent in after-hours and premarket trading on concerns over widening losses and cost pressures.
• CoreWeave raised its full-year revenue guidance to a range of $5.15 billion–$5.35 billion from a prior $4.9 billion–$5.1 billion forecast.
• An impending August 14 lock-up expiry and shareholder opposition to the proposed $9 billion all-stock Core Scientific acquisition have intensified scrutiny of the company’s capital strategy.