The company posted revenue of US$1.36 billion for the period to 30 September, up from $583.9m a year earlier.
Revenue backlog almost doubled to $55.6 billion, reflecting long-term commitments from AI labs, hyperscalers and enterprise customers.
CoreWeave secured a series of large deals during the quarter, including:
- Meta: An agreement worth up to approximately $14.2bn to support next-generation AI workloads, with scope to expand further
- OpenAI: An expanded partnership worth up to approximately $6.5bn, taking total commitments to roughly $22.4bn
- Nvidia: A $6.3bn strategic collaboration to scale GPU infrastructure and accelerate AI development
The firm also became the first to deploy Nvidia GB300 NVL72 systems and to make Nvidia RTX PRO 6000 Blackwell Server Edition instances generally available, further strengthening its position in the fast-moving AI compute market.
CoreWeave continued scaling its infrastructure footprint, adding around 120MW of active power during the quarter, bringing total active capacity to approximately 590MW and contracted power to around 2.9GW.
In the UK, the company announced an additional £1.5bn investment, bringing its total commitment to £2.5bn to accelerate local AI innovation and sustainable compute capacity.
Despite rapid growth, CoreWeave reported a net loss of $110.1m, compared with a $359.8m loss in the same quarter last year, while adjusted EBITDA rose to $838.1m from $378.8m.
The company raised $1.75bn through senior notes and closed a $2.6bn term loan facility to fund continued expansion. It also launched CoreWeave Ventures to invest in companies building foundational AI technologies.
CoreWeave listed on Nasdaq in March 2025 and positions itself as “The Essential Cloud for AI”, focused on high-performance computing for AI training and inference workloads. The firm said unprecedented demand across global AI labs and enterprises is continuing to drive growth.
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