Joe Tenebruso, The Motley Fool Wed, November 11, 2026 at 11:25 PM EST 3 min read CRWV +16.05% NVDA -4.94% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Shares of CoreWeave (NASDAQ:CRWV) rallied nearly 25% on Wednesday after the cloud-computing specialist's third-quarter results helped assuage investors' fears about its ability to continue growing at a torrid clip.
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CoreWeave's revenue surged 168% year over year to $3.66 billion in the third quarter. The artificial intelligence (AI) cloud company's adjusted operating income, in turn, jumped 75% to $379 million.
"This was a breakout quarter for CoreWeave, with revenue increasing by more than $1 billion sequentially and adjusted operating margins reaching double digits a quarter ahead of plan," CEO Michael Intrator said.
As a leading neocloud operator, CoreWeave acquires advanced AI infrastructure from Nvidia and other chipmakers. It then rents out those computing resources to customers such as Microsoft, IBM, and OpenAI.
This strategy works well, unless debt financing gets too expensive. With interest rates rising, investors have grown more concerned about CoreWeave's ability to obtain the cash it needs to fund its expansion.
During a conference call with analysts, chief financial officer Nitin Agrawal said CoreWeave plans to rely less on unsecured bond financing and more on delayed draw term loans backed by its customer contracts. Agrawal said these DDTL credit facilities offer more attractive interest rates, which will help to reduce CoreWeave's expansion costs.
Looking ahead, CoreWeave now projects full-year revenue of up to $13.3 billion in 2026. Management also sees adjusted operating income rising by roughly 26% to $1.3 billion.
"Our growth is supported by multiple sources of funding, including financing backed by customer contracts, operating cash flow, and approximately $9 billion in customer prepayments and deposits expected in the next three months alone," Intrator said. "That financial flexibility positions us to keep delivering the infrastructure and software customers need to build, run, and scale AI."
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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends International Business Machines, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
Why CoreWeave Stock Skyrocketed Today was originally published by The Motley Fool
