CoreWeave Raises 2026 Revenue Outlook After Quarterly Beat

CoreWeave reported third-quarter revenue of $3.66 billion, up 168% from a year earlier, and raised its 2026 revenue forecast after results beat analysts’ expectations. The company also reported a $709 million net loss and said it expects about $9 billion in customer prepayments and deposits over the next three months.

The revised full-year revenue outlook is $13 billion to $13.3 billion. CoreWeave also raised its adjusted operating income forecast to $1.275 billion to $1.375 billion, from a previous range of $960 million to $1.15 billion. Its revenue backlog stood at about $132.5 billion at the end of September, according to company figures.

The results came as investors focused on how the artificial intelligence computing provider will finance expansion. Chief Financial Officer Nitin Agrawal said CoreWeave does not intend to issue additional parent-level unsecured debt at current yields through 2027. The company plans to rely on loans tied to customer contracts, customer prepayments, operating cash flow and hardware-partner financing, executives said.

The expected customer payments have not yet been received. Chief Executive Michael Intrator said the company anticipates about $9...