CoreWeave CEO cancels planned 10b5-1 share sale after strong earnings

CoreWeave CEO Michael Intrator told CNBC on Wednesday that he has suspended the 10b5-1 stock-sale program he announced in November 2025 after the company posted 168% year-over-year revenue growth and beat third-quarter expectations. "Until there is a material change in our equity pricing, my 10b5 has been sidelined," Intrator said on the network's "Squawk on the Street," adding that any future sales would be "just normal tax stuff."

Under the plan, Intrator sold 8.26 million shares at an average price of $96.14 per share, generating roughly $794.2 million in proceeds. The move comes as CoreWeave’s shares have fallen 18% in 2026 despite a 20% post-earnings rally on Wednesday.

Investors have expressed concern that rising interest rates and a potentially less favorable political climate could dampen the artificial-intelligence boom. In the recent midterm elections, voters approved stricter data-center restrictions in 40 of 41 ballot measures across 10 states, and Democrats gained control of both houses of Congress and key governorships.

Intrator told analysts on the earnings call that the company does not expect any impact from the regulatory changes linked to the election. > "We do not anticipate any impact from the seismic regulatory shift that's occurred," he said. He added that the firm remains focused on responsible growth and sees the new political environment as an opportunity to scale.

CoreWeave continues to target 1.85 gigawatts of active power by the end of 2026 and projects full-year capital expenditures of $37 billion to $39 billion, aligning with analysts' median estimate of $37.69 billion. The company said it is comfortable with its pipeline and intends to remain a "good neighbor" in the communities where it operates.

—CNBC's Nick Wells contributed to this article.