CoreWeave closes at $56.6 after sharp pullback following results surge
Key Facts
CoreWeave shares closed at $56.6 on November 12, 2026, according to EL7 daily data, after falling nearly 7% in the session, according to the Associated Press. The decline came a day after the stock surged 24.7% on November 11, following the company’s third-quarter results. The Associated Press linked Thursday’s drop to Nvidia shares falling after its CEO’s departure, noting that Nvidia owns a stake of about 13% in the data-center and cloud-computing company. The move put the stock on a volatile path over two consecutive sessions, shifting from strong gains to a notable decline. Investors are focused on whether revenue growth can offset the cost of expansion and financing.
CoreWeave reported revenue of $3.661 billion in the third quarter of 2026, compared with $1.365 billion in the same period a year earlier, according to the company’s results. The company said strong demand for its cloud services drove the results, while Reuters reported that heavy spending had delivered strong revenue growth. The CEO said revenue increased by more than $1 billion from the previous quarter and that the adjusted operating margin reached double digits one quarter ahead of plan. The company also said it added more than 200 megawatts of active capacity during the quarter, bringing the total to more than 1.7 gigawatts, or twice its active footprint at the start of the year. Contracted and expected revenue in its remaining performance obligations totaled about $132.5 billion as of September 30, 2026, according to the company’s filing with the U.S. Securities and Exchange Commission.
By contrast, net loss widened to $709 million in the third quarter, from $110 million in the same period of 2025, according to CoreWeave’s results. Net interest expense rose to $846 million, compared with $310 million a year earlier. These figures highlight the cost of financing infrastructure as revenue grows and operating capacity expands. The company said it would not tap the unsecured debt markets after borrowing costs rose. It added that cash flows from existing contracts would cover current and future debt payments. In its report, the Associated Press noted that some analysts viewed customer prepayments as progress toward the company financing its operations itself.
CoreWeave raised its 2026 revenue forecast to a range of $13.0 billion to $13.3 billion, according to its third-quarter results announcement. It also raised the lower end of its full-year capital expenditure forecast to $37 billion, from a previous range starting at $35 billion, saying this reflected faster infrastructure deployment and delivery to customers. The CEO said the company expects about $9 billion in customer prepayments and deposits during the three months following the results announcement on November 10. The company forecast that its active capacity would exceed 1.85 gigawatts by the end of 2026. At the same time, it estimated fourth-quarter interest expense at between $1.05 billion and $1.15 billion, a line item that remains central as spending on expansion continues.
CEO Michael Intrator told Reuters that regulatory scrutiny could slow data-center construction across the sector, but he did not expect it to materially change CoreWeave’s expansion plans or raise its costs. The company’s guidance combines higher expected annual revenue, a planned increase in capital expenditure, and stated reliance on cash flows and contracts to cover debt. Expected customer prepayments during the following three months, along with reaching the active-capacity target by year-end, remain among the indicators the company cited for tracking its plan’s execution. The market, meanwhile, showed opposite moves on November 11 and 12: a surge following the results and a decline that coincided with Nvidia’s drop. CoreWeave shares closed the latest session at $56.6.