Observed Signal · Feb 26, 2026 · Earnings Report · Source: CNBC Technology · Impact: 4/5 · Sentiment: Neutral
CoreWeave Surges Past Revenue Projections Amid Massive Backlog
CoreWeave shares fell after the AI-focused cloud infrastructure provider reported fourth-quarter results and issued lighter-than-expected revenue guidance. Q4 revenue was $1.57 billion (110% year-over-year growth) and adjusted EPS was a loss of $0.56 versus a -$0.49 Street expectation. CoreWeave guided first-quarter revenue of $1.9 billion to $2.0 billion, below the $2.29 billion LSEG consensus, and full-year 2026 revenue of $12 billion to $13 billion (analysts expected $12.09 billion). The company cited continued short supply of Nvidia GPUs, reported 850 megawatts of active power capacity and 3.1 gigawatts of contracted power, and plans $30 billion to $35 billion in capital expenditures for 2026 (up from $10.31 billion in 2025). Other disclosures included a $66.8 billion revenue backlog, adjusted EBITDA of $898 million (below consensus), an increased $2.5 billion credit facility, and product announcements including an object storage service and a deal with model builder Poolside.
Public earnings and forward guidance from an AI-focused cloud infrastructure provider with large capex plans and GPU supply constraints are material to AI compute capacity and enterprise model hosting dynamics that affect tech and ad/marketing technology ecosystems.
Track NVIDIA Signals & Market Shifts in Real-Time
Polaris7 autonomous intelligence agents track regulatory filings, primary sources, executive changes, and deal flow 24/7. Create your free Explorer workspace to monitor these entities.
Key Takeaways & Evidence Grounding
- CoreWeave reported Q4 revenue of $1.57 billion, up 110% year over year.
- Adjusted EPS: loss of $0.56 vs. $0.49 loss expected by LSEG consensus; adjusted EBITDA $898 million (below $929 million StreetAccount consensus).
- Guidance: Q1 revenue $1.9–$2.0 billion (below $2.29 billion LSEG consensus); FY2026 revenue guidance $12–$13 billion (analysts expected $12.09 billion).
- Operational: 850 megawatts active power capacity and 3.1 gigawatts contracted power; revenue backlog rose to $66.8 billion from $55.6 billion.
- Corporate actions: plans $30–$35 billion capital expenditures in 2026 (vs. $10.31 billion in 2025); increased credit facility to $2.5 billion from $1.5 billion.
Connected Companies & Entities
8 Entities mappedOntology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
CoreWeave Shares Fall 10% After Weak Guidance
CoreWeave reported Q1 2026 revenue of $2.08 billion, beating LSEG consensus, but posted a wider net loss and provided lighter-than-expected revenue guidance for Q2, sending shares down about 10% in extended trading. The company said operating costs and capital spending are increasing as it builds GPU-heavy data centers to serve large AI model developers. CoreWeave raised significant debt this year to fund expansion, noted a major $2 billion share purchase by Nvidia, and maintained its 2026 revenue target while raising the lower end of its 2026 capex outlook to $31 billion. Management reiterated long-term growth targets including annualized revenue above $30 billion by end of 2027 and highlighted large contracted power and customer commitments.
CoreWeave stock rises 14% as revenue doubles
CoreWeave shares jumped in premarket trading after the AI-infrastructure provider reported stronger-than-expected Q2 results and raised guidance. Revenue was $2.58 billion, up 112% year-over-year, and adjusted loss per share was $1.03 versus a $1.20 expected loss. Operating expenses more than doubled to about $2.6 billion, producing an operating loss of $49 million and a wider net loss of $626 million. Management reported a $104 billion revenue backlog (excluding more than $25 billion of recent commitments), 1.5 GW of active data-center power, and highlighted major customers and partners. It guided Q3 revenue of $3.4–$3.6 billion and full-year revenue of $12.4–$13.2 billion, flagged materially higher capital spending, and said regulatory headwinds and debt levels warrant caution even as several firms raised price targets.
CoreWeave CEO Defends $35B Spending Amid Stock Plunge
CoreWeave CEO Mike Intrator defended the company's aggressive infrastructure spending during a CNBC interview after the stock fell 18% following post-earnings revenue guidance that disappointed investors. The New Jersey-based GPU cloud provider said it plans to spend $30 billion to $35 billion in 2026, exceeding FactSet estimates and stoking profitability and debt-sustainability concerns. CoreWeave finances purchases of advanced Nvidia AI chips with debt and rents compute capacity to customers, with revenue concentrated among a small group of hyperscalers including Microsoft and OpenAI. Intrator said the company has willingly accepted margin pressure to scale capacity for surging AI demand and noted a decline in cost of capital — about 300 basis points in the past 12 months — which he quantified as $700 million in savings across the company’s debt load.
Track Real-Time Market Signals & Shifts
Set up custom watchlists to receive automated, evidence-grounded executive digests whenever material signals or shifts occur across your tracked landscape.