CoreWeave shares rose 15.27% in premarket trading after the AI cloud provider reported third-quarter revenue above analyst estimates. The shares were at $56.12 as of 12:50 p.m. UTC, leaving them down 32% for the year, according to Yahoo Finance.
CoreWeave reported $3.66 billion in revenue, up 168% from $1.36 billion a year earlier and about 3.4% above the $3.54 billion consensus estimate compiled by Google Finance. It also reported a revenue backlog of about $132.5 billion as of Sept. 30. That figure includes revenue it expects from existing customer contracts, subject to delivery and service availability.
