CoreWeave reported third-quarter revenue of $3.66 billion, up 168% year over year and 3.4% above the $3.54 billion consensus estimate. Shares of the artificial intelligence cloud provider rose 15.27% to $56.12 in premarket trading on Wednesday, trimming the stock’s year-to-date decline to 32%. As of September 30, CoreWeave’s revenue backlog stood at approximately $132.5 billion. The figure includes revenue the company expects to recognize under existing customer contracts, subject to delivery and service availability. In April, CoreWeave announced a multiyear agreement with Anthropic, followed days later by a $6 billion deal with Jane Street.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
