CoreWeave raised its 2026 revenue forecast after third-quarter sales beat analysts’ estimates and said it expects about $9 billion in customer prepayments and deposits over the next three months to finance its expansion.
The AI computing provider reported revenue of $3.66 billion for the quarter ended Sept. 30. That was up 168% from a year earlier and above analysts’ estimate of about $3.55 billion. CoreWeave now forecasts full-year revenue of $13 billion to $13.3 billion.
Its previous forecast range was $12.4 billion to $13.2 billion. The company also raised its forecast for adjusted operating income to $1.275 billion to $1.375 billion. Its reported revenue backlog reached $132.5 billion.
The results gave investors evidence that demand for CoreWeave’s computing capacity is leading to sales. CoreWeave shares rose in after-hours trading. But the company’s expansion remains costly.
It reported a $709 million net loss, including $846 million in net interest expense. CoreWeave expects capital spending of $37 billion to $39 billion in 2026. The planned customer payments and deposits provide one source of funding for its expansion.
However, they do not remove questions about debt, financing costs and the scale of future investment.