After several weeks of uncertainty about the future of the neoclouds, CoreWeave raised its 2026 guidance for revenue and capital expenditures Tuesday, anticipating that it will “deploy infrastructure and deliver it to customers sooner than planned,” according to its third-quarter earnings report.
“Customer demand remains extremely strong, and our newest contracts are among the most profitable we have ever underwritten,” CEO Mike Intrator said on the earnings call.
The neocloud’s third-quarter results beat analysts’ expectations and come after weeks of growing concerns around mounting debt, investor skepticism, and lukewarm or unsuccessful IPOs that have dampened the outlook for the sector, including CoreWeave.
But on Wednesday morning, Intrator told CNBC that “demand for the infrastructure is and remains overwhelming,” and shares of CoreWeave rose nearly 22% in early trading.
