CoreWeave Nears 2026 High Ahead of Q1 Results

CoreWeave will release first‑quarter results after markets close on Thursday. The company expects quarterly revenue of $1.97 billion to $2.0 billion, roughly 100% higher than a year earlier, and a net loss of $0.85 to $0.89 per share driven by large capital expenditures for GPU infrastructure.

The revenue guidance matches the company’s prior outlook but is below an earlier internal projection of $2.29 billion. CoreWeave attributes the wider per‑share loss primarily to spending on data centers and NVIDIA GPU clusters as it concentrates on AI compute capacity.

CoreWeave stopped Ethereum mining during the 2018 market downturn and shifted into cloud services before focusing on AI data centers. The company now serves customers that need access to large GPU fleets and reports one data center complete with three more planned. To finance expansion, CoreWeave has used institutional debt and specialized financing and has accumulated about $29.8 billion in debt.

The firm partners with major technology companies, including Meta and Microsoft, and is investing in facilities related to OpenAI. Zacks Research characterizes CoreWeave as a “shovels” provider, supplying hardware and high‑speed compute for large language models and low‑latency AI applications.

Shares traded near $130.47, their highest levels in 2026, ahead of the report. Options markets show implied volatility above 18%, higher than the recent 20‑day average. Short interest stands at about 14.5% of the free float, with 1.7 days to cover. Zacks Research assigns a hold rating to the stock.

Other former crypto miners and infrastructure providers are also shifting toward GPU compute. Hut 8 and Core Scientific are repurposing capacity or hosting GPU data centers; Core Scientific is preparing to host a 200 MW site for CoreWeave. Iris Energy has begun acquiring NVIDIA GPUs and its shares rose more than 33% over the past five trading days.

Investors will watch the Q1 report for details on revenue growth, capital spending plans and debt levels. The company’s disclosures on capacity expansion and financing are expected to shape near‑term trading around the earnings announcement.