CoreWeave soars more than 24% for best day since April 2025 after strong Q3 report

CoreWeave shares rose more than 24% on Wednesday, their strongest daily gain since April 2025, after the AI cloud computing company reported a sharp rise in quarterly revenue and gave a strong outlook. Its results also lifted other specialist cloud providers, while executives said political changes would not disrupt planned US data centre construction.

Revenue increased 168% to $3.7 billion in the three months to 30 September. CoreWeave cited funding from several sources, including about $9 billion in customer prepayments and deposits, and forecast 2026 revenue of $13 billion to $13.3 billion, above analysts’ $12.86 billion estimate. It also expects adjusted operating income of $1.275 billion to $1.375 billion, compared with analysts’ $1.07 billion forecast.