AI Cloud Stock Shock: CoreWeave Crushes Q3 Earnings But Lowers 2025 Forecast, Shares Dive

CoreWeave, a major AI cloud provider, released its third-quarter 2025 earnings report. The company reported strong financial results. Revenue for the quarter reached $1.36 billion. This figure beat Wall Street expectations. CoreWeave also significantly reduced its net loss to $110 million.

The company’s backlog grew substantially. Total revenue backlog nearly doubled to over $55 billion. The firm announced several major deals. This includes a new $14.2 billion contract with Meta Platforms. They also expanded their existing partnership with OpenAI by $6.5 billion. CoreWeave is rapidly increasing its cloud infrastructure capacity. They now have about 2.9 gigawatts of power under contract.

However, the stock fell about 6% in after-hours trading. This drop followed a revised outlook. CoreWeave lowered the high end of its full-year 2025 revenue forecast. The CEO blamed the change on temporary delays. A third-party developer is behind schedule on a key data center facility. This delay impacted the company’s ability to recognize revenue. Despite the strong demand and major contracts, the slowdown concerned investors.