CoreWeave shares jump 13% as Q3 revenue rises 168% to $3.7 billion, company raises 2026 outlook

Résumé détaillé

CoreWeave shares jump 13% as Q3 revenue rises 168% to $3.7 billion, with the AI cloud company raising its 2026 revenue and income outlook.

CoreWeave shares jumped 13% in premarket trading on Wednesday after the artificial intelligence (AI) cloud computing company reported better-than-expected third-quarter results and raised its financial outlook for 2026. The strong results helped ease some investor concerns about the company's growth and funding.

CoreWeave's revenue surged 168% to $3.7 billion in the third quarter, compared with the same period last year. The company announced the revenue growth in a statement on Tuesday.

CoreWeave CEO Michael Intrator described the three months ended September 30 as a "breakout quarter" for the company. He said the strong growth was supported by several sources of funding, according to CNBC.

These funding sources included financing backed by customer contracts, along with around $9 billion in customer prepayments and deposits. This means customers have paid money to the company in advance, helping support its business expansion.

CoreWeave also raised its financial outlook for 2026, expecting adjusted operating income of between $1.275 billion and $1.375 billion. It expects its total revenue for the year to reach between $13 billion and $13.3 billion.

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The company's revenue outlook is higher than analysts' expectations. Analysts surveyed by Visible Alpha had expected CoreWeave to report adjusted operating income of $1.07 billion in 2026.

Similarly, analysts polled by LSEG had expected CoreWeave's 2026 revenue to reach $12.86 billion. The company's new revenue forecast of $13 billion to $13.3 billion is above that estimate, according to CNBC.

Other AI cloud companies also saw their shares rise in premarket trading on Wednesday. CoreWeave shares were up 13.2% as of 4:18 a.m. ET. Nebius shares gained 11.4%, while IREN shares rose 7.9%.

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