Jim Cramer warms to CoreWeave after strong earnings and CEO's reassurance

Jim Cramer said Wednesday he is becoming less skeptical of CoreWeave after the neocloud company reported strong quarterly earnings and its CEO made reassuring comments, leading shares to surge nearly 25%. CoreWeave beat revenue expectations and raised its 2026 guidance, easing concerns about an AI infrastructure spending slowdown. CEO Michael Intrator said demand for computing capacity is 10 times greater than supply, allowing for price increases and stronger margins despite heavy expansion spending. Intrator also addressed CoreWeave's debt load, saying he can earn better returns building data centers than buying back bonds. He noted Nvidia H100 chips purchased four years ago are now contracted at premiums of 20% to 50% above cost. Shares remain down 15% year to date.