CoreWeave Shares Fall 11.91% to $61.39 in Friday's Session

CoreWeave shares fell $8.30 from Thursday’s $69.69 close to finish at $61.39 Friday, Oct. 16, an 11.91% decline.

As of June 30, the AI cloud provider had $31.405 billion in recourse debt and $3.663 billion in non-recourse debt. CoreWeave had $16.319 billion in operating lease liabilities and $221 million in finance lease liabilities.

For the quarter ended June 30, CoreWeave recorded $2.575 billion in revenue, up from $1.212 billion a year earlier. Net interest expense rose to $640 million from $267 million, and the company reported a $626 million net loss.

CoreWeave’s revenue backlog was about $104 billion at quarter-end, excluding more than $25 billion in net new customer commitments added in early third quarter. The backlog is subject to delivery and service-availability requirements. Chief Executive Michael Intrator said, “Customer demand is accelerating, as enterprise adoption broadens and we continue to deepen our technology platform.”