Overview
- CoreWeave posted Q3 revenue of $1.36 billion, up 134% year over year, but trimmed full‑year guidance to $5.05–$5.15 billion due to powered‑shell delays at a partner facility that push some Q4 revenue into later periods.
- Shares have fallen about 32% since the earnings release as investors reassessed delivery‑timing risk tied to third‑party data‑center construction.
- Analyst views diverged: JPMorgan downgraded the stock to Neutral with a $110 target, Macquarie cut its target to $115 with a Neutral rating, and Wells Fargo reaffirmed a Buy with a $150 target.
- Management said the delay affects a single site and does not change the contracted revenue backlog, which stood at roughly $55.6 billion at quarter‑end.
- Bridgewater Associates disclosed a purchase of 270,556 shares (about $37 million) last quarter, even as founder Ray Dalio cautioned that AI valuations look frothy.