CoreWeave’s third-quarter revenue jumped 168% to $3.66B, but its net loss grew more than 6-fold to $709M.
Borrowing costs drove that loss: net interest expense rose to $846M from $310M, more than double the quarter’s $379M adjusted operating income.
Because the company borrows to buy Nvidia GPUs ahead of rental income, it burned $7.5B after capital spending, up from $1.6B a year earlier.
Contracted backlog still climbed to $132.5B from $104B in June, and the 2026 revenue forecast rose to between $13B and $13.3B.
The spending plan grew too, with full-year capex guidance now at $37B to $39B, up from $35B to $39B.
The quarter closed with about $4.12B in cash against nearly $47B of debt, so further growth depends on new borrowing or share sales.
Worries about that funding had cut the stock more than 40% over the past month, though shares rose about 6% after hours.