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00:03Corweave reported first quarter adjusted losses of $1.12 per share on $2.08 billion in revenue,
00:09compared with analyst estimates for losses of $0.90 per share and revenue of $1.97 billion,
00:16according to Benzinga Pro. Revenue increased 112% year over year. The company said it ended
00:23the quarter with a revenue backlog of $99.4 billion. Corweave reported $2.22 billion in
00:30operating expenses and ended the quarter with approximately $2.24 billion in cash and cash
00:36equivalents. CEO Michael Intrator said the quarter marked the strongest bookings period in the
00:42company's history. Corweave also said it expanded its relationship with NVIDIA to accelerate the
00:48build-out of more than 5 gigawatts of AI factories by 2030. Shares were down by 11.05% at
00:56$114.60
00:57in Monday's pre-market trading, according to data from Benzinga Pro.
01:02For all things money, visit Benzinga.com.
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