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last mo.

CoreWeave Reports 420% Revenue Growth in First Post-IPO Earnings

The Nvidia-backed AI infrastructure provider beat revenue estimates with $981.6 million in Q1, while net losses widened to $314.6 million.

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Q1 artificial intelligence AI Coreweave

Overview

  • CoreWeave's Q1 2025 revenue reached $981.6 million, surpassing the $852.9 million consensus estimate and marking a 420% year-over-year increase.
  • The company reported a net loss of $314.6 million, up from $129.2 million a year earlier, driven in part by $177 million in stock-based compensation tied to its IPO.
  • CoreWeave's revenue backlog stood at $25.9 billion as of March 31, bolstered by an $11.9 billion, five-year deal with OpenAI signed in March 2025.
  • Shares rose 11% in after-hours trading following the earnings report, bringing the stock's total increase to 68% since its March Nasdaq debut.
  • CoreWeave provides Nvidia-powered AI infrastructure, positioning itself as a key player in the competitive generative AI market alongside major cloud providers like Amazon and Microsoft.