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CoreWeave reports $1.36 billion Q3 revenue and rising backlog amid losses
CoreWeave’s Q3FY25 revenue surged to $1.
AI infrastructure company CoreWeave reported Q3FY25 revenue of $1.36 billion, nearly double year-on-year, while its revenue backlog expanded to over $55 billion. The firm posted a per-share loss of $0.22 as operating margin narrowed to 16% from 21% due to scaling costs. CEO Michael Intrator said strong cloud GPU demand from enterprise clients and AI model training partnerships continue to underpin growth.
CoreWeave expects to achieve full-year revenue exceeding $5 billion, reaffirming its leadership in specialized AI compute infrastructure.