CoreWeave CEO Michael Intrator said on CNBC on November 11, 2026, that the company can earn more by investing in AI infrastructure than by buying back its unsecured bonds, which are yielding 15% to 16%. CoreWeave reported approximately $3.7 billion in revenue for the third quarter of 2026, up 168% year over year, and raised its 2026 capital expenditure guidance to between $37 billion and $39 billion. To finance this expansion, the company is relying on approximately $9 billion in customer prepayments over the next three months and on secured and delayed-draw loans tied to specific contracts. Intrator also canceled his Rule 10b5-1 stock trading plan, though the decision does not establish his future trading intentions. The strategy prioritizes growth over balance-sheet cleanup and places greater reliance on major customers, including Microsoft and OpenAI, and on lenders backed by contracts.
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