New to this? Read it in simple words
- CoreWeave rents out AI computing power to companies such as OpenAI.
- Its sales rose to $3.66 billion in three months, from $1.37 billion a year earlier.
- It still lost $709 million in the quarter.
- It now expects $13.0 billion to $13.3 billion in sales in 2026.
- Backlog
- Money a company expects to earn from contracts that customers have already signed.
- Neocloud
- A newer company that rents out AI chips from its own data centres.
- Extended trading
- Buying and selling shares after the stock market’s normal closing time.
CoreWeave is one of the “neoclouds”: newer companies that rent out AI chips from their own data centres. Its customers include OpenAI, and it has borrowed tens of billions of dollars to build. The results came out after the US stock market closed on November 10.
The quarter
Revenue was $3.66 billion, up from $1.37 billion a year earlier: an increase of about 168%. Analysts had expected about $3.55 billion, according to LSEG data cited by Reuters.
The net loss grew to $709 million, or $1.27 per share, from $110 million a year earlier. Adjusted operating income, which leaves out some costs such as stock-based pay, was $379 million.
Figures from CoreWeave’s release. Debt as Reuters reports it.
Orders and forecast
The revenue backlog, money CoreWeave expects from signed customer contracts, was about $132.5 billion at the end of September. It was $104 billion at the end of June, Reuters reports.
CoreWeave now expects 2026 revenue of $13.0 billion to $13.3 billion, up from $12.4 billion to $13.2 billion. It expects to spend $37 billion to $39 billion on equipment and buildings this year, raising the low end by $2 billion.
Power and customers
CoreWeave says it now runs more than 1.7 gigawatts of active power, after adding more than 200 megawatts in the quarter. It says it has contracts for more than 4.6 gigawatts in total.
It names Canva, Substack and Wayve among its new customers, and says it expanded work with OpenAI, Perplexity and Jane Street. These are the company’s own figures and names.
Sources1
The debt question
CoreWeave’s shares had fallen more than 40% in the past month, as investors worried about its borrowing and rising interest rates. It had about $46.9 billion of debt at the end of September, Reuters reports.
“At current yields we do not intend to issue additional parent-level unsecured debt through 2027,” finance chief Nitin Agrawal told analysts. Chief executive Michael Intrator said $9 billion in customer prepayments and deposits would come in over the next three months.
After the results, the shares rose about 5% in extended trading, Reuters and SiliconANGLE reported.
Sources
Every fact in this story comes from the sources below. Open them to check our work.
- 1
- 2Research · November 10, 2026CoreWeave raises revenue forecast as AI demand defies growing doubts Reuters via The Star
- 3Research · November 10, 2026CoreWeave arrests stock slide after posting a strong earnings beat and raising its full-year guidance SiliconANGLE
- 4Research · November 10, 2026CoreWeave stock pops as Q3 revenue beats estimates, company raises full-year outlook Yahoo Finance
The results come from CoreWeave’s release. The power figures and customer names are the company’s own, and the growth rate is calculated from its revenue figures.
CoreWeave raises its forecast as sales nearly triple. Silicon AI News, November 11, 2026. https://siliconainews.com/stories/coreweave-q3-2026-results
Revenue nearly tripled to $3.66 billion and the forecast rose, but a $709 million loss and $46.9 billion of debt weigh on it. How we rate the mood
The mood shows how the news frames the event for the tech and AI world: as an opportunity (6 and above) or as a loss (below 5). It is not our verdict on who is right.