CoreWeave shares rose 24.7% after the company reported third-quarter revenue of $3.66 billion, up 168% from a year earlier. It raised its 2026 sales forecast to $13 billion–$13.3 billion, but posted a $709 million net loss.
CoreWeave reported a $132.5 billion revenue backlog, which represents services it expects to deliver over time, not cash already received. It also expects about $9 billion in customer prepayments and deposits over the next three months; those payments could reduce its immediate need to borrow. The revenue growth shows demand for AI computing capacity, but does not establish that supplying it will produce sustainable profits.
