CoreWeave Shares Sink After Data Center Delay Cuts Full-Year Outlook Below Analyst Targets

Benzinga

CoreWeave shares dropped 16% after CEO Mike Intrator cited delays at a third-party data center developer, forcing the company to trim its 2025 revenue outlook. Despite the setback, CoreWeave reported strong third-quarter revenue growth and said its backlog remains unaffected.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03CoreWeave shares fell 16% on Tuesday after CEO Mike Intratour said delays at a third-party

00:09data center developer led the company to cut its full-year guidance. According to CNBC Intratour,

00:15told CNBC that the quarter went as planned except for a delay involving one data center provider.

00:21CoreWeave reported third-quarter revenue of $1.36 billion, a 134% increase from the prior year.

00:28However, it lowered its 2025 revenue outlook to $5.05 billion to $5.15 billion,

00:35below analysts' $5.29 billion estimate. Intratour told analysts the delays would not

00:42impact CoreWeave's backlog or contract value. For all things money, visit Benzinga.com.

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