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CoreWeave shares gain 13%
CoreWeave shares jumped 13.2% in premarket trading after the company reported quarterly results that beat expectations and raised its full-year outlook. Third-quarter revenue rose 168% to $3.7 billion. The company now expects full-year revenue of $13 billion to $13.3 billion and adjusted operating income of $1.275 billion to $1.375 billion, compared with analyst estimates of $12.86 billion in revenue and $1.07 billion in operating income. The stock’s rise comes amid investor concerns about the sustainability of AI investment and financing pressures on specialized cloud-computing companies.
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