{"id":64993,"date":"2025-08-12T22:06:08","date_gmt":"2025-08-12T22:06:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/64993\/"},"modified":"2025-08-12T22:06:08","modified_gmt":"2025-08-12T22:06:08","slug":"coreweave-beats-quarterly-revenue-estimates-on-sturdy-ai-demand","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/64993\/","title":{"rendered":"CoreWeave beats quarterly revenue estimates on sturdy AI demand"},"content":{"rendered":"\n<p class=\"yf-1090901\">(Reuters) -CoreWeave topped Wall Street estimates for second-quarter revenue on Tuesday, driven by accelerating demand for the Nvidia-backed AI cloud computing firm&#8217;s services.<\/p>\n<p class=\"yf-1090901\">The company offers access to data centers and Nvidia chips, which are highly coveted for by enterprises to train and run large AI models amid intense competition.<\/p>\n<p class=\"yf-1090901\">CoreWeave, which currently has 33 AI data centers up and running across the U.S. and Europe, focuses solely on GPU-based operations.<\/p>\n<p class=\"yf-1090901\">The company&#8217;s operating expenses jumped to $1.19 billion in the quarter, compared to $317.7 million a year.<\/p>\n<p class=\"yf-1090901\">Livingston, New Jersey-based CoreWeave&#8217;s shares fell 6% in trading after the bell. The stock has gained nearly three-fold since its March IPO.<\/p>\n<p class=\"yf-1090901\">Revenue backlog was $30.1 billion as of June 30, the company said.<\/p>\n<p class=\"yf-1090901\">CoreWeave reported revenue of $1.21 billion for the second quarter, compared with analysts&#8217; average estimate of $1.08 billion, according to data compiled by LSEG.<\/p>\n<p class=\"yf-1090901\">(Reporting by Juby Babu in Mexico City; Editing by Sriraj Kalluvila)<\/p>\n","protected":false},"excerpt":{"rendered":"(Reuters) -CoreWeave topped Wall Street estimates for second-quarter revenue on Tuesday, driven by accelerating demand for the Nvidia-backed&hellip;\n","protected":false},"author":2,"featured_media":64994,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[62,41558,276,277,49,48,41559,9564,61],"class_list":["post-64993","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-ai-cloud-computing","tag-artificial-intelligence","tag-artificialintelligence","tag-ca","tag-canada","tag-coreweave","tag-data-centers","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/64993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=64993"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/64993\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/64994"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=64993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=64993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=64993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}