CoreWeave beats Q3 revenue, raises 2026 outlook, easing AI slowdown fears

CoreWeave beat third-quarter revenue expectations and raised its 2026 guidance on Tuesday, easing investor concerns about an AI infrastructure slowdown, with shares rising slightly in extended trading. The neocloud reported revenue of $3.66 billion, surpassing the $3.55 billion consensus, a 168% increase from $1.36 billion a year earlier, though it posted a net loss of $709 million. Executives lifted 2026 adjusted operating income forecast to $1.275-$1.375 billion on $13-$13.3 billion revenue, above analyst estimates. CoreWeave's stock had fallen over 40% in the past month amid AI trade volatility, rising interest rates, and high bond yields, with the company owing nearly $47 billion in debt. It now holds a $132.5 billion revenue backlog, up from $104 billion in June, and plans $37-$39 billion in capital expenditures for 2026.