CoreWeave shifts to prepaid contracts after earnings surge and share-sale cancellation
CoreWeave said it will finance its artificial-intelligence expansion by requiring upfront customer payments, securing contract-backed loans and using shorter-term agreements, after reporting a 168% revenue jump and a $709 million net loss for the quarter on November 11. Earlier, CoreWeave CEO Michael Intrator halted a pre-arranged 10b5-1 share sale following the strong earnings, saying the results removed any regulatory concerns. Prior to that, Investor's Business Daily reported that CoreWeave shares rose after CEO Ian Intrator highlighted the company's pricing power and that its data-center capacity was fully booked during the third-quarter earnings call.
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CoreWeave
Ian Intrator
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