CoreWeave Forecast Misses Estimates as Rising Spending Outlook Sends Shares Plunging

CoreWeave is a cloud infrastructure provider specializing in computing capacity for AI training and inference, buying GPUs and expanding data centers aggressively to meet demand from technology companies. NVIDIA invested $2 billion in the company through a private placement in January 2026. Because CoreWeave’s rapid growth depends on substantial capital and financing, changes in its forecasts and costs are key tests of whether its business model can become profitable.

CoreWeave reported first-quarter revenue of $2.08 billion after the market closed on May 7, 2026, beating LSEG’s estimate of $1.97 billion. Its net loss, however, widened to $740 million from $315 million a year earlier. The company forecast second-quarter revenue of $2.45 billion to $2.6 billion, below analysts’ estimate of $2.69 billion. It also raised the lower end of its full-year capital expenditure forecast to $31 billion from $30 billion while keeping the upper end at $35 billion, sending its shares down more than 9% in after-hours trading.