CoreWeave Posts 167% Revenue Growth as Shares Gain After Hours

CoreWeave’s third-quarter revenue climbed 167% year over year to $3.66 billion, topping the $3.55 billion market forecast as the AI cloud provider raised its full-year revenue outlook.

The company lost 95 cents per share, less than the $1.16 loss analysts expected. CoreWeave shares rose more than 5% in after-hours trading to $51.38.

CoreWeave now projects 2026 revenue of $13 billion to $13.3 billion, up from its prior range of $12.4 billion to $13.2 billion. It also raised the lower end of its annual spending forecast by $2 billion, setting a new range of $37 billion to $39 billion.

Capital spending increased to $14.5 billion in the quarter from $9.4 billion in Q2. Contracted revenue not yet recognized reached $132.5 billion at Sept. 30, compared with $104 billion at June 30.

Chief Executive Mike Intrator said CoreWeave expects to receive $9 billion in customer prepayments and deposits over the next three months. The company expects to reach adjusted profitability in the first half of 2028.