Particle.news
Download on the App Store
8 ARTICLES
·
last mo.

CoreWeave Reports $982M in Q1 Revenue, Surging 420% Year-Over-Year

In its first earnings since going public, the AI cloud provider beats expectations, announces a $25.9 billion backlog, and sees shares rise 11% in extended trading.

Image
Image
A screen displays the company logo for CoreWeave, Inc., Nvidia-backed cloud services provider, during the company's IPO at the Nasdaq Market, in New York City, U.S., March 28, 2025. REUTERS/Brendan McDermid/File Photo
Q1 artificial intelligence AI Coreweave

Overview

  • CoreWeave reported Q1 revenue of $981.6 million, surpassing the $852.9 million consensus estimate and growing 420% year-over-year.
  • The company disclosed a $25.9 billion revenue backlog, including $11.2 billion from a strategic five-year deal with OpenAI.
  • Shares of CoreWeave have climbed 68% since its March IPO and jumped 11% in after-hours trading following the earnings release.
  • Net losses widened to $314.6 million, driven by $177 million in stock-based compensation tied to the IPO.
  • Demand for AI infrastructure, fueled by Nvidia-powered data centers, continues to drive CoreWeave’s rapid scaling and competitive position.