CoreWeave’s earnings report highlights $56 billion in contracted revenue, but its guidance and share price tick down amid AI infrastructure bubble fears

CoreWeave reported a significant increase in contracted future revenue, reaching $55.6 billion, a nearly 85% jump from the previous quarter, largely driven by agreements with major AI players like OpenAI and Meta. This surged backlog exceeded Wall Street's benchmark, showcasing strong customer demand for its AI infrastructure services. Despite the impressive contracted revenue, CoreWeave revised its full-year revenue guidance downward due to construction delays at some of its data centers, a situation attributed to a third-party developer falling behind schedule. This adjustment, along with an increas... download the app to read more