CoreWeave (CRWV) reported a lower-than-expected third quarter loss while revenue topped Wall Street estimates amid surging artificial intelligence compute demand. CoreWeave stock wavered on Monday as investors mulled the size of the beat and revenue backlog growth, a key metric.
The company reported Q3 CoreWeave earnings after the market close. In the September quarter, CoreWeave said it posted a loss of 22 cents per share versus a $1.82 per share loss a year earlier. Revenue rose 133% to $1.365 billion, the company said. Wall Street analysts predicted a 40-cent loss for CoreWeave stock on revenue of $1.286 billion.
A cloud computing services provider, CoreWeave rents out servers equipped with Nvidia (NVDA) artificial intelligence accelerators.
CoreWeave said remaining performance obligation, or RPO, came in at $55.6 billion, up 85% from $30 billion the previous quarter.
RPO represents total revenue a company expects to recognize in the future from customer contracts that have not yet been fulfilled. Cloud firms can only recognize revenue as they deliver services.
On the stock market today, CoreWeave stock fell more than 1% to 104.01 in extended trading. Heading into the CoreWeave earnings report, shares had jumped 160% in 2025. Shares hit an all-time high of 187 on June 20.
CoreWeave and other cloud infrastructure startups rent Nvidia-chip equipped computer servers mainly to artificial intelligence model builders as well as app developers. CoreWeave’s data centers are designed from scratch for crunching AI workloads. Nvidia owns a 7% stake in CoreWeave and is a strategic partner.
Also, CoreWeave recently terminated its proposed acquisition of Core Scientific (CORZ) in an all-stock transaction. The CoreWeave initial public offering in March raised $1.5 billion.
CoreWeave Stock Technical Ratings
CoreWeave’s biggest customer is Microsoft (MSFT), followed by Meta Platforms (META).
While some analysts project a big AI market opportunity for CoreWeave, others fret about customer concentration and high debt.
Meanwhile, CoreWeave stock owns a Composite Rating of 60 out of a best possible 99, according to IBD Stock Checkup. Also, CoreWeave stock has a relatively small float, making it more volatile. The Composite Rating is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths.
Meanwhile, CoreWeave stock holds an Accumulation/Distribution Rating of B. That rating analyzes price and volume changes in a stock over the past 13 weeks of trading. (A+ signifies heavy institutional buying; E means heavy selling. Think of a C grade as neutral.)
Additionally, CoreWeave is among the top AI stocks to watch. CoreWeave was founded as a cryptocurrency miner in 2017 before its move into cloud computing services.
Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, quantum computing, cybersecurity and cloud computing.
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