CoreWeave Revenue Surges 168% to $3.66 Billion, Raises Full-Year Outlook

CoreWeave reported $3.661 billion in third-quarter revenue, up about 168% from $1.365 billion a year earlier, and raised its full-year revenue forecast as demand for artificial intelligence computing continued to grow.

The Livingston, New Jersey-based company now expects 2026 revenue of $13 billion to $13.3 billion. The results cover the quarter ended September 30.

The revenue growth did not translate into a net profit. CoreWeave reported a $709 million net loss, compared with a $110 million loss a year earlier. Net interest expense rose to $846 million from $310 million.

Operating income increased to $207 million from $52 million. Its operating margin was 6%, compared with 4% a year earlier. Operating income and net income measure different parts of the business, with financing costs weighing on the final result.

Chief Executive Michael Intrator said the company expects approximately $9 billion in customer prepayments and deposits over the next three months. The company cited those commitments, contract-backed financing and operating cash flow as sources of funding for its infrastructure expansion.