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CoreWeave (CRWV.US) Reports Record Q3 2025 Revenue, Exceeding Analyst Estimates

GoAI StockTrace
GoAI StockTrace
November 10, 2025

CoreWeave (CRWV.US) announced its financial results for the third quarter ended September 30, 2025, reporting record revenue of $1.36 billion. This represents a significant increase of 134% compared to the $583.9 million reported in the same quarter last year, surpassing the analyst consensus estimate of $1.28 billion. The company reported an Adjusted Net Loss of $(40.97 million), or $(0.22) per diluted share, which is better than the analyst estimate of $(0.39) per share.

 

Unprecedented Demand and Strategic Expansion

CoreWeave experienced unprecedented demand for AI, driving its revenue backlog to over $55 billion as of September 30, 2025. This was fueled by significant customer wins and expanded partnerships, including a multi-year deal of up to approximately $14.2 billion with Meta and an expansion of its OpenAI partnership totaling up to approximately $22.4 billion.

 

The company continued its rapid scaling of purpose-built AI infrastructure, adding approximately 120 MW of active power in the quarter, bringing the total to approximately 590 MW. Total contracted power expanded to approximately 2.9 GW, showcasing significant growth in its operational capacity and diversification of its provider portfolio.

 

Strengthening Financial Position and Key Technology Milestones

CoreWeave significantly strengthened its financial position by raising $1.75 billion in 9.0% Senior Unsecured Notes due 2031 and closing a $2.6 billion delayed draw term loan facility (DDTL 3.0). These initiatives are aimed at driving the next generation of cloud computing for AI and reducing the cost of capital.

 

The company also achieved key technology leadership milestones, being the first to deploy NVIDIA GB300 NVL72 systems and the first to make NVIDIA RTX PRO 6000 Blackwell Server Edition instances generally available. Furthermore, CoreWeave acquired OpenPipe, a leading platform for training AI agents with reinforcement learning, reinforcing its commitment to innovation.