AI infrastructure provider: CoreWeave: Revenue explodes, but . . . – Shares deep red after hours
CoreWeave is growing rapidly, increasing its revenue by 420 percent. Billion-dollar contracts with OpenAI are fueling AI hype. But the stock is falling after hours as investors are hesitant about the valuation and outlook.
Summarized for you
AI infrastructure company CoreWeave caused a sensation with its first quarterly report after its IPO: First-quarter revenue rose by an impressive 420 percent to nearly $982 million, significantly exceeding the expected $853 million. Nevertheless, the stock slipped by more than seven percent after the market closed.
The company, which leases computing power based on Nvidia chips, posted a loss of $1.49 per share, partly due to high stock-based compensation related to its IPO. The net loss amounted to over $314 million.
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wallstreetONLINE Editorial Team
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Ferdinand Hammer
wallstreet-online
