CoreWeave (CRWV) Q1 2025 earnings report

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CoreWeave (CRWV) Q1 2025 earnings report

Mike Intrator, co-founder and CEO of CoreWeave, testifies during a U.S. Senate Commerce Committee hearing on artificial intelligence in Washington on May 8, 2025.

Brendan Smialowski | Afp | Getty Images

Shares of artificial intelligence infrastructure provider CoreWeave reported better-than-expected revenue on Wednesday in the company’s first earnings release since going public. The stock popped in extended trading.

Here’s how CoreWeave did in comparison with LSEG consensus:

• Earnings per share: Loss of $1.49
• Revenue: $981.6 million vs. $853 million expected

Revenue soared 420% in the quarter, which ended on March 31, from $188.7 million a year ago, according to a

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. That compares with 737% growth for all of 2024.

The company’s net loss of $314.6 million widened from $129.2 a year earlier, partly because of $177 million in stock-based compensation costs for awards tied to the IPO.

In renting out access to Nvidia graphics processing units, CoreWeave competes with cloud providers such as

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. But large companies like

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and

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have come to depend on CoreWeave.

During the quarter, OpenAI committed to a five-year deal with CoreWeave that will be worth up to $11.9 billion. The transaction is on top of OpenAI’s reliance on

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, which was responsible for 62% of CoreWeave’s 2024 revenue.

There was some skepticism heading into the report even though the stock was up 31% for the week.

Long-term uncertainty on AI supply and demand and worries about the economy “likely keep shares range-bound for now,” Wells Fargo analysts wrote in a report to clients last week. The firm recommends holding the stock.

After completing the biggest U.S. venture-backed tech IPO since 2021, CoreWeave saw its shares debut on Nasdaq in late March, initially at $39.

Nvidia, a customer and major supplier and already one of CoreWeave’s major investors, stepped in to anchor THE IPO at $40, below the $47 to $55 range announced earlier.

Executives will discuss the results and issue guidance on a conference call at 5 p.m. ET.

This is breaking news. Please check back for updates.

WATCH: Cramer’s Mad Dash: CoreWeave

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#CoreWeave #CRWV #earnings #report

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